- Yi: +9.6
- CLF and NIB are possibly forming a bottom.
- AIG, $FTSE, JJN, JNUG, NTES and POT are attempting to bottom out.
- CHK, $CRB, $DJTENG, IYE, RYE and XLE are moderately oversold.
- $XOI is attempting to hold falling trend line support.
- $DJGSP and TSM are attempting to hold the 65 DMA.
- ^CLK17, $GASO, NUGT, UGA, USB, USL, USO and UUP are attempting to hold the 28 DMA.
- BWA, CAR, SEE and $SPX are up against the 28 DMA.
- NDAQ is up against falling trend line resistance.
- GOOG and HPQ are moderately overbought.
- SCHH is toppy.
- HAS, JPM and UNG 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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