- Yi: +16.52
- GE may be forming a bottom in this area.
- MAT and TSLA are attempting to bottom out.
- ABX, CIEN, I, NCR, P and RAIL are at the average oversold level,
- AEM, CC, FAT, HAS, HRB, MTSI, SYMC, TPX, UGP and $UST30Y are now moderately oversold.
- SHAK is trying to hold rising trend line support.
- $DJGSP is trying to hold falling trend line support.
- WOR is attempting to hold the 65 DMA here.
- MTH, RRGB and XLY are attempting to hold the 28 DMA.
- LPL, MMC and RGLD are up against the 28 DMA.
- O and TPR are up against the 65 DMA.
- BBY, MCD and RGLD are up against falling trend line resistance.
- MDLOX is up against rising trend line resistance.
- AHH, ALL, ATI, CSIQ, EQIX, IFN, SU and YUM are moderately overbought.
- MET, MANT, PRELF, QCOM and $XOI are at the average overbought level.
- TRV is getting toppy here.
- CVY is 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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