- YI: -5
- Extremely oversold now: AA, AAUK, ACAS, ADP, ALEX, C, CMI, CSL, FTO
- Standard oversold: AMTD, BHP, the BKX index, BMY, CAT, EEM, EJ, ERF, EWJ, EWP, FCX, FRO
- Trying to hold falling trend line support: The DRG index, EWI, EWU, EXP
- Attempting to hold the 28 DMA here: ABX, ELN
- Trying to break above some falling trend line resistance: ERIC
- Attempting to break above the 28 DMA here: ELY
- 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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