- Yi: +16.92
- SHLD is trying to bottom out.
- CBRL is at the average oversold level.
- HPE and PRELF are moderately oversold.
- MAIN is attempting to hold the 28 DMA.
- AVP, BIDU, CC, DBA, IYE, NUGT, SIL and $XAU are up against the 28 DMA.
- HBI and IP are up against the 65 DMA.
- FCX and Z are up against falling trend line resistance.
- SCHB is up against rising trend line resistance.
- AAPL, AET, CAT, HMC, IYJ, KSS, MOS, NUS, PFF and WDC are moderately overbought.
- ITW, PX and VFC are average overbought.
- HSNI, NTAP and QCOM are getting toppy at this level.
- DE is possibly forming a top.
- IQV, PAG, PEG, TSLA and WSO are setting up to break out either 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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