- Yi: + 86.22
- Attempting to bottom out: HBI
- Trying to bounce: KHC, RGR
- Attempting to hold the 28: UUP
- Attempting to hold the 65: TSL, TSLA
- Up against the 65: BBY, BEN, $XOI
- Up against the 28: CAT, CSX, GFI
- Up against rising trend line resistance: COPX
- Up against falling trend line resistance: CAT, QLD
- Moderately overbought: BAC, CAKE, FL, GDX, JNUG, MET, SIL, SIVR, $SILVER, UNG, $XAU
- Overbought: SEE
- Toppy: AVAV
- ABEWISUF: IBM, $UST30Y
- 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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