- Yi: +55
- Attempting to bottom out: CANE
- Moderately oversold: CAKE, JJN, M, RGR
- Trying to hold some rising trend line support: AMP, APD, $INDU
- Trying to hold some falling trend line support: AEO, IR, IVW, IWM, IYJ, MJ, NIB, PICK, QQQ, RIOT
- Attempting to hold the 28: CMI, CORN, OMC
- Up against the 28 DMA: LMT
- Up against some falling trend line resistance: TWTR
- Up against some rising trend line resistance: IYE
- Moderately overbought: QID
- Toppy: UNG
- A break out either way is setting up for: KMB, MMC, PFE, TAP, TSN
- 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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