- Yi: +13.2
- GPC is average overbought.
- HD is moderately oversold.
- BAC, CAT and IYJ are trying to hold rising trend line support.
- C, MET and MTH are attempting to hold the 28 DMA.
- GBTC is up against the 28 DMA.
- ABX and DIS are up against the 65 DMA.
- B, CPER, $CRB, CTB, EFV, FNDF and JNJ are moderately overbought.
- $DJW, $FXT and GILD are average overbought.
- CLF, EWI, IWM and MBI are toppy here.
- AMAT, KLIC and MDY are possibly forming a top in this area.
- LEN and MCD 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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