- Yi: +12.10
- F, FL, IYE, JCP, MTSI and RYE are possibly forming a bottom in this area.
- ANF, BBBY and $GASO are attempting to bottom out.
- IRBT and NTAP are now moderately oversold.
- BNS and HPQ are now up against the 25 DMA.
- BRKS is up against the 65 day.
- B is up against falling trend line resistance.
- A, ATI, $COPPER and CPER are at the average overbought level.
- BABA is extremely overbought now.
- PG is getting toppy.
- AGQ, $CRB and PFF are setting up to break out either on the upside or the downside.
- 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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