- Yi: +10.6
- $CRB, $GOLD and PAG are attempting to bottom out.
- HMC and VFC are up against the 28 DMA.
- LOW, SCHX and $SPX are up against rising trend line resistance.
- SHAK abd SYY are moderately overbought.
- APD, COH, NOK and Z are at the average overbought level.
- GF is extremely overbought.
- HRB, IR, SBUX and YUM are toppy.
- GT, JPM, SHLD, TGS and UYG 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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