- Possible bottom here for: LOW
- Trying to bottom out in this area: KEY, KFT, LEN. MOT, the OEX index, PAYX, PBY, ROK, SPC, VFC, and WHR
- Extremely oversold: MRVL and SNDK
- Standard oversold: The IIX index, JWN, MDC, MER, MFE, QLGC, SEE, SKS, SMTC, and STX
- Moderately oversold: IYM, MPG, PHG, PLL, QQQQ, RNR, RYL, SNA, the S&P-500, SUN, WDC, and WY
- Trying to hold some rising trend line support: IYM, MEOH, PCU, PTEN, RIO, the S&P-500, and WTS
- Trying to hold falling trend line support: IWM, MSCC, NSC, SGP, TOL, WB, WOR, and XLF
- Attempting to hold the 28 DMA: IFN, NX, and the XOI index.
- Trying to break above some falling trend line resistance: JNJ, LUFK, VFC, and WSO
- 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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