- Yi: +15.7
- At the average oversold level: CTB, CRUS, MAT, PM, PPC
- Moderately oversold: AMAT, BRKS, FL, PHI, SFIX
- Now trying to hold falling trend line support: PG and PHI
- Attempting to hold the 65 DMA: DLPH and GM
- Up against the 28 DMA: CSL
- Up against falling trend line resistance: WYN
- Moderately overbought: ABX, AMZN, AXP, BBGI, CAT, $DJTENG, EMR, EWI, FCX, RYE, SIVR, SLV, SPWR, VGK, $WTIC, XOM
- Toppy here: IYE, XLE, $XOI
- A break out either way is setting up for: YUMC
- 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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