- Yi: +11.15
- SHLD is possibly forming a bottom.
- BAC, BMY, CAR, DFS, HPE, PAG and WFC are attempting to bottom out.
- P is extremely oversold.
- BMY, DIS and JWN are moderately oversold.
- WYN is attempting to hold rising trend line support.
- HRB is attempting to hold the 65 DMA.
- AGQ, CEF, DBP, $GOLD, IAU, PG and UGLD are moderately overbought.
- GBTC, JNJ and MSFT are toppy at this point.
- KO, PEP and PHI are possibly forming a top.
- AA, AMTD, EWI, HD, NIB and $NYA50R 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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