- Yi: + 53.72
- Attempting to bottom out: BITW, $LUMBER, HRL, MARA, TUP, VNO
- Moderately oversold: GIS
- Attempting to hold the 28: NVS, RGR
- Up against the 65: EMR
- Up against the 28: DE, QRTEA
- Up against rising trend line resistance: LIN
- Overbought: IBM
- Toppy: BNS, HRB, PPLT, UGA
- A break out either way is setting up for: AA, ADM, AMAT, CAR, DBI, FB, $INDU, JWN, KLIC, KMB, KR, LBAI, NEM, PPG, QQQ, RS, SOYB, TD, TPR, UYG, WBA, XLK
- 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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