- Yi: +10.7
- CANE and NOV are possibly forming a bottom in this area.
- CMG is attempting to bottom out.
- GE and PAYX are moderately oversold.
- AU is attempting to hold falling trend line support.
- IP is attempting to hold the 65 DMA.
- CTB is up against the 28 DMA.
- FCX and FLR are up against falling trend line resistance.
- AA, CLF, CAL, $COPPER, IYG, JPM, MET, NDAQ, P and PRU are moderately overbought,
- AXP is at the average overbought level.
- AMTD and AXP are toppy here.
- HRB is possibly forming a top in this area.
- $DJW, GBTC and FXT are setting up to break out in either direction.
- 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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