- Yi: +11.1
- IBM and MOS are possibly forming a bottom.
- DB, GILD, LOW, M, SMG, UGA and USO are attempting to bottom out.
- SNA, TAP and $WTIC are oversold.
- GEF is moderately oversold.
- MSFT is attempting to hold rising trend line support.
- EQIX, IRBT, NOW and PEP are attempting to hold the 65 DMA.
- FEU, GOOG, MTS, $NDX, QLD, SMH, VGK, XLK and XLNX are attempting to hold the 28 DMA.
- CLF and QID are up against the 28 DMA.
- PETX is up against falling trend line resistance.
- CENX, CORN, DAL, IWM, NDAQ AND WOR are moderately overbought.
- B, DIS, NVDA, SFTBY and TSLA are overbought.
- BABA is extremely overbought.
- GDDY is toppy now.
- COST, HAS, PYPL and SFTBY are possibly forming a top.
- EWA, MTH and UIS 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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