- YI: -1.5
- Trying to bottom out in this area: AIG, ALD, FXY, LOW, MRVL, RGLD, SNDK, and WB
- Standard oversold now: BAC, BGF, and CAKE
- Moderately oversold: AAUK, AVP, BMY, EWA, EWP, GPC, HMC, IBM, IRF, JWN, KMX, MEOH, NOK, and XSLV
- Trying to hold some rising trend line support: GGB, GLW, GOOG, IDA, MKC, MMC, MTD, NEM, NST, TOT, WTS, and XLU
- Trying to hold falling trend line support: ACH, ASA, BHP, ERIC, EXP, NYB, OKE, RT, SEE, TCK, TICC, and TLB
- Attempting to hold the 28 DMA here: ALEX, IFN, NST, and PEG
- Attempting to break above the 28 DMA here: ERIE
- Moderately overbought now: RMBS and SUN
- 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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