- YI: -4.5
- To a buy: AA
- Trying to bottom out: AMTD, BBBY, and the BKX index.
- Standard oversold: BMS
- Moderately oversold: AAUKD and ARM
- Trying to hold some rising trend line support: AMD, AU, and BVN
- Trying to hold falling trend line support: ASA
- Attempting to hold the 28 DMA here: ABX
- Attempting to break above the 28 DMA here: BLG
- More later. Anything 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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