- Yi: +11.42
- CTB is possibly forming a bottom here.
- BBBY, DAL, GE, GLW, HA, GT, NTES and SBUX are attempting to bottom out.
- CMG is extremely oversold.
- CNK, F and ITW are at the average oversold level.
- HD, $HGX, INTC, IYE, LOW, KSS and MANT are moderately oversold.
- APD and CAR are trying to hold rising trend line support.
- BA, IYG and LMT are attempting to hold the 65 DMA.
- AFL and MAIN are attempting to hold the 28 DMA.
- SNAP is up against the 28 DMA.
- GFI is moderately overbought.
- TGS is toppy.
- BRKS, CAT and GF are setting up to break out up or down.
- 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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