- Yi: +12.2
- CAKE and SBUX are possibly forming a bottom here.
- BBGY, BGS, COST, DYN, $GOLD, PEG, PHI, TAP and TSN are trying to bottom out.
- CMG, GPC and VOX are at the average oversold level.
- NIB is moderately oversold.
- QID is attempting to hold rising trend line support.
- COF, DFS and VFC are attempting to hold the 28 DMA.
- BKRS and MCHP are up against the 25 DMA.
- AEM and $DJGSP are up against the 65 DMA.
- $CRB, DBC, DBO, EQIX, $PLAT, SU, V and $XAU are up against falling trend line resistance.
- ATI, BA, CAT and CLF are up against rising trend line resistance.
- AA, AMAT, CAT, BWA, COPX, GT, RGLD, SMH and WDC are moderately overbought.
- BA is at the average overbought level.
- LMT is toppy here.
- DRI, HBI and S are setting up to break out either on the upside or downside.
- 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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