- Yi: +22.2
- Possible bottom here for: CC, FCX, MOS
- Trying to bottom out: BGS, CAKE, GE, HRB, KOL, NOV, PAG, RAIL, RSX, RYE, SU, TLRD, WBA, XLNX
- Average oversold: NCR
- Moderately oversold: NTES
- Up against the 28 DMA: MCO
- Up against falling trend line resistance: ANF. MCO, VFC
- A break out either way is setting up for: $HGX, LL, SNA, SHAK, STMP, TPR
- 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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