- Yi: +13.26
- At the average oversold level: IP, $NYA50R, X
- Moderately oversold: AA, AVAV, BA, CENX, DRI, HRB, IBM, IJH, IR, ITW, JNJ, QLD, TGS, YUMC
- Trying to hold rising trend line support: BBBY and CLF
- Attempting to hold the 65 DMA: JJG
- Attempting to hold the 28 DMA: SHAK
- Moderately overbought: $VIX
- At the average overbought level: $CPCE
- A break out up or down is on the way for: JACK
- Anything posted 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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