- Yi: +70.6
- Possible bottom here for: BABA, BIDU, MJ, NEM, TSM
- Attempting to bottom out: AEM, AU, BWA, CAKE, CAT, CIEN, CNK, FCX, FLR, $GASO, GT, IRBT, KODK, $LUMBER, MGA, OMC, PCRFY, QRTEA, QSR, TAP, TKR, V, YUMC
- Moderately oversold: CORN, SOYB, $UST30Y
- Trying to hold some rising trend line support: UUP
- Attempting to hold the 28 DMA: DBA
- Attempting to hold the 65 DMA: DE, O, WEAT
- Up against the 65 DMA: HD, MCO
- Up against the 28 DMA: CBRL, QCLN, UNG, WGO, XLY
- Up against some falling trend line resistance: AVGO, MCO, YETI
- Overbought: D
- Toppy: A, MMC
- 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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