- Yi: +10.6
- AVP, CALM, CHK and FCX are at the average oversold level.
- APD, GPC and POT are moderately oversold.
- AA and CAT are attempting to hold the 65 DMA.
- CMG is attempting to hold the 28 DMA.
- GBTC, IAU, IDA, KO and PEG are moderately overbought.
- HPQ and JNJ are at the average overbought level.
- BA, CTB, $DJW, EWA, FEU, $FXT, IYG and JPM are possibly forming a top in this area.
- AMTD, IDA and MSFT 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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