- Yi: +10.75
- BBBY, DBC, $GASO, OIL, RJI, USL and USO are possibly bottoming out in this area.
- CMG is attempting to bottom out.
- HD is moderately oversold.
- P is up against the 28 DMA.
- DIS is up against the 65 DMA.
- AGX, BBY and JCP are up against falling trend line resistance.
- DRI, UIS and WOR are moderately overbought.
- BABA, AXP, PEGI and WYN are getting toppy.
- BA, BR, JNJ, MSI, NUS, VOT and YUM are possibly forming a top here.
- IBM and SNAP are setting up to break out in either direction.
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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