- YI: +1
- Possible bottom here for: ARM, CAKE, ERIC, MFE, MOT, NOK, OKE, and TKR
- Trying to bottom out in this area: ALEX, CMI, EBAY, ENER, EWP, IRF, LEN, NWL, NYB, SYY, and T2118.
- Extremely oversold now: PBY
- Standard oversold: CPB, JOSB, SUN, and TASR
- Trying to hold some rising trend line support: FXC and UN
- Trying to hold falling trend line support: FRO
- Trying to break above some falling trend line resistance: BAC, the BKX index, C, GF, IFN, KMX, MDC, NSM, PNRA, RMBS, SMTC, TICC, WY, and XLF
- Attempting to break above the 28 DMA here: KFT and VFC
- Up against rising trend line resistance: ASA
- Moderately overbought now: The DRG index, IDU, and JNJ
- Standard overbought: ELN, LUFK, and SNE
- Extremely overbought: AEM
- 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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