- Yi: +9.1
- $VIX is at the average oversold level.
- ABX is attempting to hold rising trend line support.
- CEF is attempting to hold the 65 DMA.
- $COPPER and BWA are up against falling trend line resistance.
- EROS is up against the 65 DMA.
- AVAV, BBRY and CW are up against the 28 DMA.
- APD, B, CSL, CVY, CWI, CAR, EFV and $SPX are moderately overbought.
- BA, DB, $DJW and $NDX are at the average overbought level.
- AAPL and COPX are toppy here.
- 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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