- Yi: +27.3
- Possible bottom here: QID
- Attempting to bottom out: MJ, SPXU, TGS, YETI
- At the average oversold level: CORN, KSS, WDC
- Moderately oversold: GM, KLIC, MCHP, NOV, PBI, WHR, $XOI
- Trying to hold rising trend line support: AMZN, RYE, UNG, XOM
- Attempting to hold the 65 DMA: AA, MAT, MRVL
- Attempting to hold the 28 DMA: AVP, CC, PEGI, SMG, $USD
- Up against the 28 DMA: CL and KO
- Up against falling trend line resistance: LYFT
- At the average overbought level: MMC, MANT, NDAQ, VOT
- Moderately overbought: CPB, HRL, KOLD, MCO, PAYX
- Getting toppy: ALL, AMAT, CVS, $INDU, IYJ, LIN, MSFT, NCR, $NDX, $NOW, PRU, QLD, QQQ, SCHX, SPX, VOX, XLK
- A break out either way is setting up for: AU, CAT, GS, IWM, LM, RSX, UGP, UIS, $UST3M, WEC
- 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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