- Yi: +39.75
- Attempting to bottom out: QID, SPXU
- Oversold: CIEN
- Moderately oversold: CPB, JNPR, RSX
- Trying to hold some rising trend line support: $GOLD
- Attempting to hold the 28 DMA: $CRB, JNJ, UNG, VOT
- Attempting to hold the 65 DMA: AAPL, $INDU, IYJ, LOW, MSFT, NDAQ, SCHX, $SPX
- Up against the 28 DMA: MU, UUP, WDC, WEN
- Up against falling trend line resistance: AFL
- Up against rising trend line resistance: CAT
- Moderately overbought: CNK, FL, IP, KO, WEC
- Overbought: ADM, TUP
- Toppy: AEO, DE, FCX, IQV, MRVL, PPG, PYPL
- Break out either way on the way: KSS
- 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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