- Yi: +12.8
- BGS, DF and HSY are possibly forming a bottom at this level.
- CL and RGR are attempting to bottom out.
- C, NDAQ and TGS are trying to hold rising trend line support.
- CAFE, DYN and NAT are up against falling trend line resistance.
- CVY, EBAY, F, GDX, IP, SCHB and X are up against rising trend line resistance.
- EQIX, FB, GOOG, MSFT, PPG, SYMC and TSM are moderately overbought.
- AA, CAR and PYPL are at the average overbought level.
- TKR is a bit toppy here.
- FL, LEN, MANT and NUS are setting up to break out either upwards or downwards.
- 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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