- Yi: +15.38
- M and MTSI are trying to bottom out.
- AEM and HBI are moderately oversold.
- IYJ is trying to hold rising trend line support.
- MOS and SBUX are attempting to hold the 28 DMA.
- HSNI is up against the 28 DMA.
- CAKE and DRI are up against the 65 DMA.
- HA is up against falling trend line resistance.
- JPM and MS are up against rising trend line resistance.
- CSX, HSY, JNJ are overbought.
- AMAT is extremely overbought.
- AMZN, BRKS, MED, NOW, QLD are getting toppy here.
- $NDX and ROK are possibly forming a top.
- NCR is setting 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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