- YI: +0.5
- Possible bottom here for: PDS
- Trying to bottom out in this area: ADP and the DRG index.
- Standard oversold: CBK
- Moderately oversold: GPC, IFN, and KFT
- Trying to hold some rising trend line support: CDE, CLF, the DJ-30, MFE, NST, SHI, SKS, SPC, STX, and WSO
- Trying to hold falling trend line support: AMAT, ERIE, GIS, MRVL, NAT, TICC, and VFC
- Attempting to hold the 28 DMA here: CSTR, IDU, SKS, and SPC
- Trying to break above some falling trend line resistance: EWU and FCX
- Attempting to break above the 28 DMA here: ERF
- Up against rising trend line resistance: NOK
- Moderately overbought now: FRO and T2118
- 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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