- Yi: +9.6
- SOYB is possibly forming a bottom in this area.
- PAYX is attempting to bottom out.
- WHR is at the average oversold level.
- CREE and NTES are moderately oversold.
- CTB is attempting to hold the 65 DMA.
- COH and LOW are attempting to hold the 28 DMA.
- $PLAT, UUP, $USD and YUM are up against the 28 DMA.
- CSIQ is up against the 65 DMA.
- DYN, $FTSE and $SPX are up against falling trend line resistance.
- AU, CHK, $DJTENG, $GASO, IR, $WTIC and $XAU are moderately overbought.
- PHI is at the average overbought level.
- CAKE, LL, RGLD and TSLA are toppy.
- $DJW, I, IP, SCHD and SYMC 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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