- Yi: +14.5
- Trying to bottom out: SPXU
- Trying to hold rising trend line support: GE
- Up against the 28 DMA: AGX, AIG, CAKE, CBRL, DFS, HA, T
- Up against falling trend line resistance: YUMC
- Moderately overbought: BBY, CC, CVY, EGPT, FCX, FLR, GIS, GM, GT, IP, IQV, IWM, IYE, JACK, KHC, LIN, MAIN, MET, MGA, MMC, MRK, MS, MTSI, OMC, PPG, PRU, RBGLY, RGLD, RSX, RYE, SHAK, SIL, TILE, TKR, TLRD, TRV, VOX, WEC, WOOD, WY, XOM, YUM, YUMC
- Average overbought: $GOLD and NEM
- Getting toppy: CMI, D, GS, IRBT, PEG, PEP, SCHD, SEE, $SPX, STX, VOT, XLE
- A break out either way is setting up for: CORN, KOL, UGA
- Anything posted could 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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