- Yi: +36.08
- Trying to bottom out: AU, GOLD
- Trying to hold some rising trend line support: BCHG
- Moderately oversold: APD, AVGO, BEN, BYND, CC, $GASO, HD, $INDU, JNJ, MMC, MOS, STX, UL, Z
- Attempting to hold the 28 DMA: AAPL, B, CAKE, CANE, HAS, ITW, KDP, KHC, MJ, MSFT, MTSI, PAG, SCHX, SEE, TXN, UPS, WEN, WHR, XLY
- Attemping to hold the 65 DMA: GEF, MCD, NOW, QCOM, REMX
- Up against the 28 DMA: QID, SPXU
- Up against falling trend line resistance: HRL
- A break out in either direction is setting up for: PG, RGLD
- Anything posted here 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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