- Yi: +16.22
- CANE, NAT and XON are possibly forming a bottom in this area.
- ABX, CAFE, HSY, IRBT, JNUG, NDAQ, NOK, T and $XAU are attempting to bottom out.
- GE is extremely oversold.
- ASA, CLF, CVS, $DJGSP, FXF, HA, JNUG and MAT are at the average oversold level.
- AGQ, CL, GILD, $GOLD, GDX, HSY, I, NEM, RGLD and SCHH are moderately oversold.
- GS, LMT, MU, RGR and TGS are trying to hold rising trend line support.
- CEF, DNKN, FNDF and STMP are attempting to hold the 28 DMA.
- AEM, AHH, FL, SPWR and WYN are up against the 28 DMA.
- SGG is up against falling trend line resistance.
- DBO, RS and V are up against rising trend line resistance.
- ANF, CAL, CALM, COW, DUST, DYN, HD, $NYA50R, PETX, TILE, $USD and WSO are moderately overbought.
- AMZN, AXP, COF, GOOG, INTC, MSFT and Q are at the average overbought level.
- APD, PPG and PYPL are getting toppy.
- FLR is setting up to break out 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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