- Yi: +11.2
- CMG is attempting to bottom out in this area.
- SNAP is at the average oversold level.
- BGS, $USD and WHR are moderately oversold.
- NTES and PEG are attempting to hold rising trend line support.
- NTES is attempting to hold the 28 DMA.
- $GOLD, IAU and NOV are up against the 28 DMA.
- IAU, DBP, SFTBY and YYY are up against the 65 DMA.
- NUS is up against falling trend line resistance.
- BBRY, CWI, EFV, EWI, FNDF, $FTSE, FXI, $FXT, KO, M, MTH, NOK, NUS, ORCL, PEP, QVCA, TSM, VFC, VGK and WOR are moderately overbought.
- FEU and LOW are at the average overbought level.
- AAPL, $DJW, DPS and $HGX are getting toppy here.
- MSI, QLD, V and XLK are possibly forming a top in this area.
- STX 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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