- Yi: +9.7
- ANF and CVS are possibly forming a bottom.
- JJG, PAG, STMP and WEAT are attempting to bottom out.
- HAS, PG and WU are moderately oversold.
- NFLX, NOV and SLW are attempting to hold rising trend line support.
- FB is attempting to hold falling trend line support.
- PEP, SIVR and SLV are attempting to hold the 65 DMA.
- MDLOX is attempting to hold the 28 DMA.
- HBI, SFTBY and WHR are up against falling trend line resistance.
- AEM, GFI and WY are moderately overbought.
- GF and WFM are at the average overbought level.
- $DJW, $FXI, $GOLD, IP, JNUG, MED, PRU, QCOM, ROK, SCHB, SCHX, $SPX and UYG 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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