- Yi: +11.7
- ABX, AEM, AMAT, AU, GG, JNUG and MCHP are attempting to bottom out.
- AGQ is at the average oversold level.
- CEF, GLDI, GDX, $GOLD, GOOG, IAU, NFLX, NTES, $NDX, NVDA, PHI and $XAU are moderately oversold.
- WDC is attempting to hold rising trend line support.
- BBRY, MRVL and Q are attempting to hold the 65 DMA.
- MCD and STMP are attempting to hold the 28 day.
- $SUGAR is up against the 28 DMA.
- FAST is up against falling trend line resistance.
- TGS and YYY are up against rising trend line resistance.
- COPX, DLPH and M are moderately overbought.
- AMTD, AXP and SHLD are toppy here.
- AVAV is possibly forming a top in this area.
- B, BR, BRKS, $DJW, FNDF, JCP, MMC, MSI, RGLD, TSM and TWTR are setting up to break out in either direction.
- 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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