- Yi: +23.22
- Up against rising trend line resistance: HA, PAYX
- Up against the 65 DMA: ALEX, ATI, BA, O, PM, VNO, WFC
- Up against the 28 DMA: TAP
- Moderately overbought: AA, AMTD, BAC, C, CAR, CAT, CLF, CSX, CW, DB, $DJW, EFV, EMR, ETN, EWI, GF, GS, HAS, IBM, IP, JPM, LBAI, LMT, MED, MGA, MMM, NSC, PAG, PNC, PPG, REMX, RRGB, RS, RY, SCHD, STLD, SYY, TRV, UYG, VGK, VLY, WOR, X
- Average overbought: FIZZ, LOW, THO, WSO
- Getting toppy: AMP, AVAV, AXP, BWA, CBRL, CTB, GM, $HGX, IWM, MDC, MTH, OC, ROK, Z
- A break out either way is setting up for: $COTTON, DBO, SMH, STX
- 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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