- Yi: +10.2
- CAFE, CANE, JJN and SGG are possibly forming a bottom.
- ABX, ASA, $CRB, $DJGSP, $GASO, GFI, $SILVER, $VIX and $XAU are attempting to bottom out.
- HD, I, MAIN, SIVR and SLV are at the average oversold level.
- CEF, CTB, LPL and STMP are moderately oversold.
- AIG is up against falling trend line resistance.
- AFL, BWA, CVGRX, IP, NOK, WHR and YUM are moderately overbought.
- B, BRKS, GBTC, N, NOW, XLNX and Z are at the average overbought level.
- LOW, PEGI and XLY are toppy.
- M is 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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