- Yi: +9.5
- ATI, CAR, DFS, F, FCX, GM and HSNI are possibly forming a bottom at this level.
- CLF, CSL, CTB, CW, DF and HBI are attempting to bottom out.
- FL is at the average oversold level.
- BGS, DM and FLO are moderately oversold.
- AMAT and BABA are up against rising trend line resistance.
- GBTC is moderately overbought.
- 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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