- Yi: +11.1
- FCX, MAT and $SILVER are possibly forming a bottom in this area.
- ABX, CEF, CLF, COPX, DBP, $GASO and $GOLD are attempting to bottom out.
- CMG, $DJTENG, $UST30Y, $WTIC and Z are at the average oversold level.
- ANF, BBBY, CAL, CENX, DNKN, GPC, JCP, MKC, UGP and VOX are moderately oversold.
- APD, CAT, HBI, IP and ROK are attempting to hold rising trend line support.
- IYE and XLE are attempting to hold falling trend line support.
- AIG, CL, CVY, MDLOX and ROK are attempting to hold the 28 DMA.
- NTES is up against rising trend line resistance.
- CSIQ, GILD and YUM are moderately oversold.
- AMAT, GF and MSFT are setting up to break out in an either upward or downward direction.
- 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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