- YI: 0
- Trying to bottom out: SVU
- Extremely oversold: BAC and GM
- Standard oversold: FTO and PNRA
- Moderately oversold: GT, IDA, IDU, OGE, PG, and PLT
- Trying to hold some rising trend line support: ENER, FCX, and MPG
- Trying to hold falling trend line support: EWJ, EWP, JOSB, NOK, NYB, OCR, SHI, STX, and SUN
- Attempting to hold the 28 DMA here: CLF and PHI
- Trying to break above some falling trend line resistance: PEG
- Moderately overbought now: ELN and GFI
- Standard overbought: AEM and ASA
- Toppy here: ABX
- 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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