- Yi: +10.4
- $SUGAR and $VIX are attempting to bottom out.
- SGG is attempting to hold falling trend line support.
- CVGRX and $FTSE are up against rising trend line resistance.
- DNKN, $GOLD, Q and SFTBY are moderately overbought.
- NOW and SBUX are average overbought.
- $FXT, MKC, MRVL, QLD and SCHB are getting toppy.
- SYY is setting up to break out 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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