- Yi: +11.5
- CANE, $CRB, SGG, SOYB and $SUGAR are attempting to bottom out in this area.
- JCP and PTEN are now extremely oversold.
- JJG is at the average oversold level.
- $GASO, NIB, OIL, USO and $WTIC are now moderately oversold.
- DUST is trying to hold falling trend line support.
- KMB is up against the 28 DMA.
- IP is up against the 65 DMA.
- AGQ, DRI and NUGT are up against falling trend line resistance.
- GDX is up against rising trend line resistance.
- BR, EQIX, MCD and XRX are now moderately overbought.
- PEG is now at the average overbought level.
- DNB, PPC, V and YUM are toppy here.
- PEP, PG and VFC are possibly forming a top.
- YUMC is setting up to break out either 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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