- Yi: +12.45
- DFS, IYE, M, MOS, STX, $XOI and XON are possibly forming a bottom in this area.
- AGX, AMZN, BBGI, BBRY, BGS, CNK, QCOM, RYE, WSO, XLE and XLNX are attempting to bottom out here.
- FL, MAT and NAT are extremely oversold now.
- WHR is at the average oversold level.
- CALM, CREE, DE, EGPT, NTAP and SWK are moderately oversold.
- HBI is trying to hold rising trend line support.
- CSIQ is attempting to hold the 65 DMA.
- CAR, CG, TSLA and XRX are attempting to hold the 28 day.
- JJN is at the average overbought level.
- GFI is a bit toppy here.
- EWI, PFF and $SILVER are setting up to break out either on the upside or downside.
- 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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