- YI: at (-5) for the second day in a row, so the market is getting severely oversold...
- Probable bottom here for: ACAS
- Possible bottom here for: EWU and TCK
- Trying to bottom out in this area: AMTD, BGF, BMY, EEM, EJ, ENER, ERF, GOOG, LMT, the OEX index, PHI, PLL, PLT, PTR, RMBS, SHI, SNA, the S&P-500, STP, UGP, and the XOI index.
- Extremely oversold now: ALD, CPB, DFG, the DJ-30, DVY, ERIE, EWA, EWD, GF, GPC, the IIX index, IWM, JOSB, MOT, SGP, STMP, STX, SYY, TASR, TSM, and WIRE
- Standard oversold at this point: AAPL, AIG, BPO, CY, EWI, HON, IDU, KFT, MKC, MPG, MTD, NOK, NSC, NST, NTES, OXY, PEG, PG, QQQQ, T, TOT, TSU, TTH, the VXO, WY, and XLU
- Moderately oversold: JNJ, PEP, and QCOM
- Trying to hold some rising trend line support: ASA, CDE, ELN, KO, and TICC
- Trying to hold falling trendline support: CAKE, ENER, ERIC, NSM, OGE, OKE, QLGC, SUN, WDC, WOR, WPL, WSO, XLF, and XMSR
- Attempting to hold the 28 DMA now: XSLV
- Trying to break above some falling trend line support: BAC, BKC, CAT, CSTR, GM, IYR, JOSB, MDC, NYB, SEE, SKS, and TKR
- Up against rising trend line resistance: FXY
- 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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