- Yi: +13.51
- CAKE and RRGB are possibly forming a bottom.
- CENX, GT, IP and PAG are attempting to bottom out..
- MTSI is extremely oversold.
- AU, AVP, BGS, GG and SHAK are average oversold.
- AGQ, CREE and SYMC are moderately oversold.
- NUS is attempting to hold the 65 DMA.
- CANE, GDX, GILD and MSI are attempting to hold the 28 DMA.
- ANF and BR are up against the 28 DMA.
- LOW and HD are up against the 65 DMA.
- FLO is up against falling trend line resistance.
- $FTSE and I are moderately overbought.
- DNB and RAIL are average overbought.
- HBI, NDAQ, NOK, $PLAT and STMP are a bit toppy here.
- M and MCD are setting up to break out either up or down.
- Anything posted 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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