- YI: +0.5
- Possible bottom here for: ACAS, ALD, AMAT, BMY, and GM
- Trying to bottom out: AIG, ARM, BHP, CAKE, CAT, CORS, the DJ-30, EWA, EWU, GE, and GPC
- Extremely oversold now: DELL
- Standard oversold at this point: ALEX, CSL, DVY, EWD, and IBM
- Moderately oversold: BKC, BPOP, CLF, CSTR, EWP, GOOG, HMC, and HON
- Trying to hold some rising trend line support: AAPL, CREE, EEFT, EEM, ELY, ERF, and GGB
- Trying to hold falling trend line support: AA, AAUK, AXP, EBAY, and ENER
- Attempting to hold the 28 DMA here: HIT
- Trying to break above some falling trend line support: CPB
- A break out in either direction is on the way for: EJ
- More later if I have the time. 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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