- +8.2
- JJN is attempting to bottom out.
- BMY is at the average overbought level.
- CTB is moderately overbought.
- $FTSE is attempting to hold the 28 DMA.
- MSI is up against the 28 DMA.
- CL, DM and MKC are moderately overbought.
- AA is a bit toppy here.
- HSY and $NDX are possibly forming a top in this area.
- BAC and JNJ 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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