- Yi: +9.9
- DNB is attempting to bottom out at this level.
- CSL and KO are moderately oversold.
- CL and LOW are up against falling trend line resistance.
- CVS is up against the 65 DMA.
- MET and SBUX are up against the 28 DMA.
- CVY and $DJW are up against rising trend line resistance.
- CAKE, $COPPER, CORN, CWI, DPS, DRI, EWA, FXI, $FTSE, HD, $HGX, IJH, MDY, MED, MKC, NCR, Q, WEN and XLY are moderately overbought.
- VOT and YUM are at the average overbought level.
- MCD, NFLX and STMP are getting toppy here.
- COST is possibly forming a top at this level.
- $NDX and QLD have gone parabolic.
- NAT is 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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