- Yi: +10.6
- AGQ, AVP, CEF, SIVR and $SLV are possibly forming a bottom in this area.
- $COPPER, DBP, $GOLD and I are attempting to bottom out.
- SNAP is at the average oversold level.
- CTB, DIS, MAIN, NDAQ and PEG are moderately oversold.
- INTC is attempting to hold rising trend line support.
- $DJTENG is up against the 28 DMA.
- ANF, DAL, $FTSE, MGA, NUS and QCLN are moderately overbought.
- FSLR, HRB and WEN are at the average overbought level.
- CVGRX, MDLOX and RAIL are getting toppy.
- BBRY and HD are possibly forming a top at this level.
- CENX, CVY, IJH, MDY, MKC and PEP 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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