- Yi: +13.11
- Trying to bottom out: SPWR
- Moderately oversold: ABX, AEM, FCX
- Trying to hold rising trend line support: ASA
- Attempting to hold the 65 DMA: IDA and NUGT
- Attempting to hold the 28 DMA: GFI
- Up against the 28 DMA: BBY, JPM, JJG, SHAK, STMP
- Moderately overbought: BABA, C, CAL, $CRB, CVS, $DJTENG, F, GPC, IJR, IR, IYE, IYG, RYE, TGT, WYN, XLE, $XOI
- Average overbought: GM
- Toppy here: $DJW, HD, MU
- A breakout out either way is on the way for: GDDY and HAS
- 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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