- Yi: +62.97
- Moderately oversold: $USD
- Trying to hold some rising trend line support: INTC, JPM
- Attempting to hold the 28 DMA: CBRL, INTC, KSS, MU, QSR, TSM, WDC, XOM
- Attempting to hold the 65 DMA: AVGO, MRVL, QCOM
- Up against the 65 DMA: NOV
- Up against rising trend line resistance: IQV, PM
- Moderately overbought: BAL, BBL, CANE, CC, CORN, $COTTON, $CRB, $GASO, HAS, MOS, NCR, PAG, TSN
- Overbought: MAN, PRU, YUM
- Extremely overbought: IQV
- A break out either way is setting up for: BGS, HBI, IRBT, NYCB, RS, TILE, WGO, WOR
- Anything posted on these pages 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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