- Yi: +9.0
- CAR and CW are attempting to bottom out in this area.
- CL and CVGRX are moderately oversold.
- DF, DPS and NDAQ are trying to hold rising trend line support.
- DPS is attempting to hold the 28 DMA.
- TWTR is up against the 28 DMA.
- DBA, TSM and YUM are moderately overbought.
- $NDX is toppy here.
- AMTD is at a probable top area.
- Anything posted here may be off base.
For those of you who have inquired, the "Yi" is my own proprietary overbought/oversold indicator. A +10 reading generally indicates we are overbought in the overall market, and -4 or a -5 reading is telling us the market is a bit oversold. The "zero line" in between the plus and minus readings will sometimes act as an area of support or resistance, so I tend to keep an eye on that level also. A reading of +20 is extremely overbought, and a -10 indicates the market is extremely oversold.
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