- Yi: +27.77
- Possible bottom here for: CORN, DLPH, KOL, MOS, SEE
- Attempting to bottom out: AGX, ANF, CBRL, FL, JJGTF, KSS, NUS, QRTEA, $UST3M, YUM
- Extremely oversold: PINS
- Average oversold: JACK
- Moderately oversold: LPL
- Trying to hold rising trend line support: PG and SMG
- Attempting to hold the 65 DMA: MTSI and TSLA
- Attempting to hold the 28 DMA: EWI, MANT, PPC, QCOM, $XAU
- Up against rising trend line resistance: FCX
- Moderately overbought: JWN and PFE
- Average overbought: JNJ and MMC
- A break out either way is setting up for: BGS, MSI, ROK, RS
- 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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