- Yi: +25.51
- Moderately oversold: CMG
- Attempting to hold the 28 DMA: D and TGT
- Up against the 65 DMA: UUP
- Up against the 28 DMA: CNK and MJ
- Up against rising trend line resistance: NSC
- Moderately overbought: CAKE, $CRB, DBO, IFN, IR, KLIC, KSS, LBAI, MAN, MED, PYPL, RSX, SNA, STLD, TD, TKR, TTM, $XOI
- At the average overbought level: B, BRKS, C, CAT, CMI, GT, ROK, RS, THO, WFC, WGO, WU
- Getting toppy: JPM and O
- A break out either way is setting up for: BA and DIS
- 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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