- Yi: +8.8
- MKC is possibly forming a bottom in this area.
- CL, DF, LOW, M and P are attempting to bottom out in this area.
- KO and STX are moderately oversold.
- BA, IYG, MDY, NCR and $SPX are attempting to hold the 28 DMA.
- SPWR is up against falling trend line resistance.
- CAKE is up against the 28 DMA.
- AA, COPX, DYN, FXI, LPL, SNA and SEE are moderately overbought.
- AAPL and TKA are a bit toppy here.
- DIS is probably forming a top here.
- AVP, COST, DNB, GLW, GM and IP are setting up to break out either up or down.
- 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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