- Yi: +10.8
- BBGI, CANE, CLF, JNUG, RJI, SGG and $SUGAR are possibly forming a bottom in this area.
- CW, DBC, NDAQ, P and $VIX are attempting to bottom out.
- X is extremely oversold.
- MGA, MTH and QVCA are moderately overbought.
- TSM is at the average overbought level.
- $NDX is extremely oversold.
- B is toppy.
- AAPL, GBTC, GF and GOOG are possibly forming a top in this area.
- AXP, BMY, CAFE and CNK 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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