- +10.4
- MED and SNA are possibly forming a bottom in this area.
- CAR, HMC, SHLD and $UST30Y are trying to bottom out.
- NAT is extremely oversold.
- IYE, NOV, RYE and SOYB are at the average oversold level.
- DNB, EROS and PETX are moderately oversold.
- IYG and UIS are trying to hold rising trend line support.
- DAL and SHAK are trying to hold the 65 DMA.
- T and VFC are up against the 28 DMA.
- AIG, CL, LPL, SEE, SIRI, TSLA and XLY are moderately overbought.
- MMC is overbought.
- FB, $FXT, IYJ, $NDX, NOW, PEP and SMH are getting toppy.
- GOOG is possibly forming a top.
- CTB, $DJGSP, DUST, FLO, GG and NUGT are setting up to break out up or down.
- Anything posted my 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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