- Yi: +23.05
- Moderately oversold: TSN
- Attempting to hold the 28 DMA: CHD, HRL, MMC, WSO
- Up against the 65 DMA BAC, BBY, CAT
- Up against the 28 DMA: AA, CRUS, GOOG, MU, UIS
- Up against falling trend line resistance: CREE and MCHP
- Moderately overbought: AAPL, BA, BABA, CAR, COPX, CMI, CVA, CTB, DE, EWI, FXI, GILD, GLW, GM, HNI, HPE, IBM, $INDU, IWM, LYFT, MAN, MOS, $NDX, NOW, $NYA50R, NVDA, RY, S, X
- Average overbought: IQV and WHR
- A break out either way on the way: GPC
- Anything posted 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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