- Yi: +8.9
- JDST and STX are attempting to bottom out in this area.
- BMY, GT and $UST30Y are moderately oversold.
- DIS, SYY and WU are trying to hold rising trend line support.
- GBTC is attempting to hold the 65 DMA.
- BWA, NCR, NEM, NOK, S and SCHH are attempting to hold the 28 DMA.
- WFC is up against falling trend line resistance.
- GLDI and MCD are up against the 65 DMA.
- CEF, MOS, NUS, PFF and SOYB are moderately overbought.
- FNDF and SNA are a bit toppy here.
- EWA is possibly forming a top in this area.
- PAG, PRU, NUGT, RAIL and $UST3M are setting up to break out in either direction.
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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