- YI: -3.5
- Possible bottom here for: BBBY
- Trying to bottom out: ACAS, BKC, BKS, BPOP, CHC, CLF, and EEFT
- Standard oversold: AIG, the DRG index, and DVY
- Moderately oversold: ADP, AMD, ASA, BAA, BMY, CAT, CPB, CREE, ELN, the E-Mini 500, and gold.
- Trying to hold some rising trend line support: AAUKD, the BTK index, CSCO, CSTR, DELL, the DJ-30, DO, ELY, and ENR
- Trying to hold falling trend line support: ALC and BHI
- Attempting to hold the 28 DMA here: BVN
- Trying to break above some falling trend line resistance: ALEX
- Attempting to break above the 28 DMA here: The dollar.
- More later. Anything 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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