- Yi: +16.38
- BRKS and CC are attempting to bottom out.
- ATI, BIDU, CAR, CSX, DFS and $FTSE are moderately oversold.
- BMY, COPX, NOW and PX are trying to hold rising trend line support.
- $COPPER and $FTSE are attempting to hold the 65 DMA.
- AXP, COW, $DJW and JNJ are attempting to hold the 28 DMA.
- HA is up against the 28 DMA.
- BBY, CVS and KMB are up against falling trend line resistance.
- HAS and HSY are moderately overbought.
- AGQ, BB, BWA and CALM are 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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