- Yi: +9.6
- BWA, BGS, CAR, DBA, CREE, WHR and XON are attempting to bottom out in this area.
- EROS is extremely oversold.
- ANF, PAG and STMP are at the average oversold level.
- BMY, CIEN, CSL, CVS, FL, SNA and SNAP are moderately oversold.
- AVA, BKRS, DF, EFV and QCLN are attempting to hold rising trend line support.
- CW is attempting to hold falling trend line support.
- SMH and ZNGA are attempting to hold the 28 DMA.
- DBC is up against falling trend line resistance.
- CAKE is up against rising trend line resistance.
- AU is moderately overbought.
- APD, C, DBP, $GOLD, LOW, MOS, $SPX 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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