- Yi: +11.2
- $GOLD, $PLAT, $SILVER and $WTIC are attempting to bottom out in this area.
- RAIL is at the average oversold level.
- DBC, DBP, $GASO, MED, OIL, SPWR, TSLA, USL, USO and $WTIC are moderately oversold.
- BA is attempting to hold the 65 DMA.
- $USD is attempting to hold the 28 day.
- NOK is up against rising trend line resistance.
- CNK, COH, MSI, MTH, Q and SHLD are moderately overbought.
- MKC is at the average overbought level.
- LEN is possibly forming a top at this level.
- 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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