- YI: +4.5
- Trying to bottom out: AIG
- Extremely oversold: GNSS
- Moderately oversold: ERIC
- Trying to hold some rising trend line support: EWU, GE, and IIT
- Trying to break above some falling trend line resistance: AMZN, CAT, GG, NEM, WMB, and XLU
- Attempting to break above the 28 DMA here: OGE
- Now up against some rising trend line resistance: GR and SLE
- Moderately overbought now: FDP, RI, SWC, VZ, and the XNG index.
- Standard overbought: PHG and SVU
- A break out in either direction is on the way for: PTR
- To no position for now: ACAS
- Anything posted here could 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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