- Yi: +18.08
- Possible bottom here for: LPL, REMX, SYMC
- Trying to bottom out: AGQ, COPX, DBA, EBAY, EWI, GF, GLD, GLDI, $GOLD, $HGX, IAU, JJGTF, LMT, MAN, PETX, $SILVER, UGLD, WSO, XLNX
- Extremely oversold: CAR
- Average oversold: DBP, GLD, $GOLD, MCD, SBUX
- Moderately oversold: CALM, CG, CREE, CVS, HA
- Trying to hold rising trend line support: CMG and HD
- Trying to hold falling trend line support: $PLAT
- Attempting to hold the 65 DMA here: QCOM, SCHD, TROW
- Attempting to hold the 28 DMA: AET, HD, I, WEN
- Up against falling trend line resistance: AA and PHI
- Average overbought: AVAV and MKC
- Getting a bit toppy here: SNA
- A break out in either direction is setting up for: JNJ, MANT, MOS, P, SPWR
- 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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