- Yi: +20.33
- Moderately oversold: AGX, AMAT, IDA, JJGTF
- Attempting to hold the 28 DMA here: I
- Up against the 65 DMA: FNDF and JACK
- Up against falling trend line resistance: ALL and DIS
- Up against rising trend line resistance: CMG
- Moderately overbought: ANF, BBY, CHK, CLX, DLPH, ETN, FAT, JCP
- Average overbought: GM, JR, IR, IYJ, MTSI
- Getting a bit toppy here: BGS, FL, GPC, MDY
- 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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