- Yi: +27.16
- Possible bottom here for: FLR
- Attempting to bottom out at this level: CIEN, DBI, JNPR, QRTEA, RY, TUP
- Average oversold: PHI
- Attempting to hold the 28 DMA: AEM, CVS, NIB, NOW
- Up against the 65 DMA: DE and SPWR
- Up against falling trend line resistance: PM
- Moderately overbought: CAR, $CRB, OLLI, PPLT
- At the average overbought level: BMY
- Starting to get toppy in this area: $SUGAR
- A break out either way is setting up for: BIDU, GE, GT, LMT, MSFT, NUS, PFE, WEN
- Anything posted on these pages 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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