- Yi: +12.4
- A possible bottom may be forming here for: CHK, CTB, MAT
- Attempting to bottom out are: BGS, FL, DB, HRL, IBM, M, WEAT, XOM, YUMC
- Average oversold: CIEN
- Moderately oversold: NOW and RRGB
- Attempting to hold falling trend line support: QID
- Up against the 28 DMA: IR, MTSI, P, POT, UYG
- Up against falling trend line resistance: BBRY, DAL, FAST, MMM
- Up against rising trend line resistance: BR, CAR, SIVR, SLV
- Moderately overbought: ASA, B, BMY, CAR, CVGRX, DWDP, CREE, $DJW, DM, EBAY, GDDY, GM, $HGX, $INDU, IYJ, MAN, MDLOX, ORCL, PAYX, PFF, QLD, ROK, SCHB, SCHX, SMH, $SPX, SWK, SYMC, SYY, VOT, X
- Average overbought: AFL, $GASO, EROS, UGA, XLK
- Toppy here: MRVL and PPC
- A possible top may be forming for: A
- A break out either way is on the way for: HD, S, STMP
- 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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