- YI: +3
- Trying to bottom out: ACAS and SPC
- Extremely oversold now is: NFI
- Standard oversold at this point: SBUX
- Moderately oversold here: CAKE, FBR, GE, IIT, KMX, MDC, and TOL
- Trying to hold some rising trend line support: BKC, COP, ELY, MCRS, QQQQ, and TASR
- Attempting to hold the 28 DMA here: BA, BMY, CGI, EWU, IBM, NTES, TYC, and XLE
- Trying to break above some falling trend line resistance: ALD and the VXO
- Moderately overbought now: GLD
- Standard overbought: GM
- Toppy here: AVP and GT
- 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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