- YI: -3.5
- Trying to bottom out here: AAPL, ADP, AMD, CAKE, the DJ-30, EWA, GE, and IRF
- Standard oversold now: CY and EWU
- Moderately oversold: AIG, AMAT, AMTD, BA, C, EEM, EWJ, FCX, GT, HMC, IDU, IFN, the IIX index, IWM, IYM, and JOSB
- Trying to hold some rising trend line support: CSL, DFG, ERIE, FBR, and GIS
- Trying to hold falling trend line support: ACF, BHP, and HIT
- Attempting to hold the 28 DMA here: ACAS, ALD, ERF, EXP, GLW, and HON
- Trying to break above some falling trend line resistance: CY
- More later if I have the time. 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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