- Yi: +20.18
- A possible bottom here for: CMI, LM, SBUX
- Attempting to bottom out at this level: F, FXI, HMC
- Moderately oversold: DUST, JJNTF, KLIC
- Trying to hold rising trend line support: $USD
- Trying to hold falling trend line support: $UST30Y
- Up against the 65 DMA here: FEU and GFI
- Up against the 28 DMA: FNG, FSLR, XLNX
- Up against falling trend line resistance: DB, DBO, EYE, GE, NOW, MSFT, QRTEA, STX, SNAP, YYY
- Up against rising trend line resistance: PM
- Moderately overbought: CAKE, CNK, EWA, FB, GILD, IWM, JNJ, JWN, KOLD, MANT, NOV, PFE, PFF, SDY, PYPL, UIS, VOT, VOX, $XAU
- At the average overbought level: MKC and SFIX
- Getting a bit toppy here: SCHH
- A break out either way is setting up for: TPR
- Anything posted on these pages 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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