- Yi: +24.66
- Trying to bottom out: $UST3M
- Average oversold: TRV
- Moderately oversold: BA, JNJ, LMT, $USD, UUP
- Trying to hold rising trend line support: BBL, NIB, PEP
- Attempting to hold the 65 DMA: NFLX
- Attempting to hold the 28 DMA: UIS
- Up against the 65 DMA: AGX, FXF, IR, LM, SHAK
- Up against the 28 DMA: MAIN, RAIL, SLV, SU
- Up against falling trend line resistance: BWA, F, FCX, LM
- Up against rising trend line support: UTX
- Moderately overbought: BBY, BRKS, CAT, CMI, IP, ITW, IWM, MAN, PAG, RGR, RY, SDY, SEE, TILE, UYG, VGK, WEAT, WY, Z
- Average overbought: VLY
- Getting toppy: BMY, CVS, LEN, MDC, MTH, SWK, VFC
- A break out either way is setting up for: KSS and TUP
- 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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