- Yi: +11.85
- Average oversold: HAS
- Moderately oversold: KMB, WFC, WU
- Trying to hold rising trend line support: DWDP
- Trying to hold falling trend line support: MAT, MSI, MTH, UUP
- Attempting to hold the 65 DMA: MED
- Attempting to hold the 28: TPX
- Up against falling trend line resistance: CALM
- Up against rising trend line resistance: LL and RJI
- Moderately overbought: BBGI, $CRB, CREE, DBC, GPC, HBI, HD, LOW, KSS, NFLX, RS, TGT
- Average overbought: ANF and BR
- A break out either way is setting up for: CANE and UIS
- 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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