- Yi: +16.20
- AVP and GE are possibly forming a bottom.
- EROS and PG are trying to bottom out.
- BBGI, I, and WEAT are average oversold.
- CAL and LL are moderately oversold.
- MBI, NOV and TAP are up against the 28 DMA.
- AGQ, CSIQ and TAP are up against falling trend line resistance.
- BABA, FNDF, PRELF and SYY are up against rising trend line resistance.
- DBA, DNKN, EGPT, GBTC, JJN, KOLD, MOS, PPC, QCLN, WFC and $WTIC are moderately overbought.
- COW and SHAK are average overbought.
- SMH is extremely overbought.
- AAPL, MCD and $NDX are toppy here.
- $HGX is possibly forming a top here.
- BAL, C and $FTSE are setting up to break out either up or down.
- Anything posted here could 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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