- Yi: +16.12
- Attempting to bottom out: QCOM
- Average oversold: TUP
- Moderately oversold: BGS, JNPR, NIB, $USD
- Trying to hold rising trend line support: LPL and NIB
- Attempting to hold the 28 DMA: CBRL and SGGFF
- Up against the 65 DMA: AXP, CAR, $CRB, HPQ
- Up against falling trend line resistance: $INDU, LOW, NSC
- Up against rising trend line resistance: CREE, LEN, OILNF
- Moderately overbought: CLF, $COPPER, EGPT, EMR, EWI, GE, JJNTF, IR, SPXU, WOOD
- Average overbought: AEM, AU, BA, BABA, BBL, FB, GLD, IAU, MMC, NOW, RY, SLV, WYND, XRX
- Toppy: UGLD and XLNX
- A break out either way is on the way for: CAKE, CSX, CWI, FLR, GBTC, THO
- 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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