- Yi: +9.6
- XON is possibly forming a bottom here.
- AA, CAFE, CAR, CLF, COPX, CORN, CVS, SNA and STMP are attempting to bottom out.
- CSIQ is at the average oversold level.
- AIG, BA, GBTC, GPC, IP, JJG, JJN and SCHW are moderately oversold.
- CAKE, GT, PEP, PYPL and WOR are attempting to hold rising trend line support.
- FCX, IJH, SEE and WSO are attempting to hold falling trend line support.
- SYMC is attempting to hold the 65 DMA.
- AAPL, MMC and RJR are attempting to hold the 28 DMA.
- I and LPL are moderately overbought.
- RAI is toppy.
- BMY, FLO, $GASO, NCR, PTM and SHAK 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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