- Yi:
+ 12.74 - KMB is possibly forming a bottom in this area.
- GT and MAT are attempting to bottom out.
- MAT is extremely oversold.
- $CRB, IYE, XLE and $XOI are moderately oversold.
- $GASO, UGA and $WTIC are attempting to hold the 28 DMA.
- DAL and GM are up against falling trend line resistance.
- $CRB, HRB, I, $INDU, JACK, TSN and YUM are moderately overbought.
- TGS is at the average overbought level.
- GBTC is getting toppy here, or so it appears.
- SHLD, T, X and YUMC are setting up to break out up or down.
- Anything posted here may be totally 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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