- Yi: +68.76
- Attempting to bottom out: QID, SPXU
- Moderately oversold: $SUGAR
- Attempting to hold the 65 DMA: MRK
- Up against the 28 DMA: ALEX, AMAT, $PLAT, PPLT, RSX, SOYB, TILE, TPR, UL, USB, WOR
- Up against the 65 DMA: CAKE, $COFFEE, HBI, MAN, MANT, SCHW, WDC
- Up against some falling trend line resistance: BCO, CC, KDP, MAIN, NOV
- Up against some rising trend line resistance: $NDX, QLD, QQQ, TSM, UGA, XLK
- Moderately overbought: AEO, BMY, CL, EMR, ITW, IYG, IYJ, MS, NDAQ, NOBL, PAG, VOX
- At the average overbought level: CVS, ETN
- Toppy: A, NOW, QQQ, $SPX, XLY
- A break out either way is setting up for: CSX, IYE, NEM, RGLD, RYE, TD, XLE
- 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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