- Yi: +15.58
- FL is possibly forming a bottom in this area.
- CMG, GPC, NCR and WHR are trying to bottom out.
- IRBT and MBI are extremely oversold.
- ABX and NOK are at the average oversold level.
- DPS, JNPR, T and TSLA are moderately oversold.
- BABA, $DJW, MAIN, MRVL and VOT are trying to hold rising trend line support.
- CG, $DJW and VOT are attempting to hold the 65 DMA.
- BA, BB, CWI, MAIN, QCLN and $XOI are attempting to hold the 28 DMA.
- WOR is up against the 28 DMA.
- DYN, PAG and WFC are moderately overbought.
- AET and APD are at the average overbought level.
- 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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