- Yi: +9.9
- DBA is possibly forming a bottom in this area.
- CANE and $SUGAR are extremely oversold.
- MKC is moderately oversold.
- AEM, AU, FXF and NUGT are attempting to hold the 65 DMA.
- DBC and $SPX are up against the 28 DMA.
- $USD is up against the 65 DMA.
- AIG, AMTD, COPX, GE and UUP are up against falling trend line resistance.
- DIS and NFLX are up against rising trend line resistance.
- CNK, DF, FL, IWM, MDY, PFF, SBUX, $WTIC and XLY are moderately overbought.
- CMG and COH are at the average overbought level.
- CC, CMG, COH, EWA, FB, FNDF, $NDX, QLD, SHLD and XLK are toppy here.
- PEP is possibly forming a top in this area.
- HD, JNG and LOW 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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