- Yi: +9.0
- COPX, MGA and P are attempting to bottom out.
- JJN and NTES are at the average oversold level.
- $COPPER, FAST, $FXT, $FTSE, I, JNJ and $USD are moderately overbought.
- PEG is attempting to hold rising trend line support.
- CVY, IWM, LOW, MED and STMP are up against falling trend line resistance.
- BGS, DPS, $HGX and LEN are moderately overbought.
- KO, MCD and SCHH are at the average overbought level.
- O is toppy.
- PEGI is possibly forming a top.
- APD and SHAK are setting up to break out either up or down
- Anything posted 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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