- Yi: +25.47
- Attempting to bottom out: CMG, M, MJ
- Moderately oversold: MDC
- Attempting to hold the 28 DMA: JWN, KSS, MTH, PTEN
- Up against falling trend line resistance: AMZN
- Up against rising trend line resistance: CVS
- Moderately overbought: GE
- Average overbought: BWA and CRUS
- Getting toppy: AMTD, $DJW, ETN
- A break out either way is setting up for: AXP, KMB, KO
- 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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