- Yi: +28.5
- Extremely oversold: CNK
- Average oversold: CORN and HA
- Moderately oversold: AAPL, $INDU, MED, MS, VGK
- Trying to hold rising trend line support: INTC, NOW, XLY
- Trying to hold falling trend lone suppurt: MKC and SOYB
- Attempting to hold the 65 DMA: MSI
- Attempting to hold the 28 DMA: AKAM, ITW, QSR, UBER
- Average overbought: $GOLD, NEM, $VIX, $XAU
- Extremely overbought: GT and UGLD
- Getting toppy: WEN
- 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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