- Yi: +11.0
- CHK, $CRB, OIL and RYE are possibly bottoming out.
- CLF, COPX, DBC, $GASO, JJN, RJI, SGG, USL, $VIX, $WTIC, XLE and $XOI are attempting to bottom out.
- $SUGAR is extremely oversold.
- SMG is oversold.
- UGA is moderately oversold.
- BBGI, EBAY and MSI are moderately overbought.
- LPL is overbought.
- B, COST, DRI, HAS, KO, MSFT, NFLX, Q, QLD, SFTBY and WHR are getting toppy.
- AFL, ITW, MMC, NDX, PYPL, SCHD, SCHX, SBUX, $SPX, V and VOT are possibly forming a top.
- I and X are 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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