- Yi: +15.65
- AEM and SPWR are trying to bottom out at this level.
- ABX, ASA, CL, EROS, NDAQ and PPLT are moderately oversold.
- LOW is attempting to hold the 28 DMA.
- M, PFF and QVCA are up against falling trend line resistance.
- BA, CSL and SHAK are up against rising trend line resistance.
- AET, CVS, COF, CSCO, DFS, DRI, IDA, KSS, MAIN, MSFT, MS, PRG, PPC, SNA, TGT and VFC are moderately overbought.
- BAC, $HGX, IR, MMM, Q and PPG are overbought.
- $INDU is extremely overbought now.
- EWA, IBM, SCHB, SCHX, $SPX, VOT and XLK are getting toppy here.
- DLPH 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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