- Yi: +8.3
- Moderately oversold: QID and SPXU
- Up against the 65 DMA: AAPL, APD, BIDU, CL, CLF, GOOG, HSY, $INDU, IQV, KMB, KOL, MAT, MMM, MTSI, NSC, PM, QCOM, QID, SCHD, SCHX, $SPX, TRV, UBER, UL, VGK, VOT, VOX, WEN
- Up against the 28 DMA: BWA, CVS, DE, GEF, JNJ, MKC, MRK, NDAQ, OLLI, PFE
- Up against falling trend line resistance: MRK
- Moderately overbought: HRL, MSFT, RGR, STX
- A break out either way is setting up for: KDP
- 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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