- Yi: +13.3
- AU and MTSI are possibly forming a bottom.
- FLR is average oversold.
- DM and RYE are moderately oversold.
- TAP is trying to hold rising trend line support.
- SIRI is attempting to hold the 65 DMA.
- DIS and $DJGSP are attempting to hold the 28 DMA.
- AVAV and JACK are up against the 28 DMA.
- EGPT is up against falling trend line resistance.
- $FTSE, HD, JPM, MAIN, MCHP and NVDA are moderately overbought.
- BBY and GBTC are average overbought.
- $INDU, FNDF, LL and VGK are possibly forming a top.
- EWI is probably forming a top.
- KO, O, OIL and $WTIC are getting ready to break out either 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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