- YI: -2
- Extremely oversold: SOLF
- Standard oversold: BMY
- Moderately oversold now: ARM, CY, GE, GM, and IYM
- Trying to hold some rising trend line support: SYY, VFC, and WSO
- Trying to hold horizontal trend line support: PLT
- Trying to hold falling trend line support: AAPL, C, IDA, and NST
- Attempting to hold the 28 DMA here: AVP, BAC, SEE, and XMSR
- Moderately overbought now: MEOH
- Standard overbought: ACH and GG
- Toppy here: GGB and UGP
- A break out in either direction is on the way for: The IIX index and SGP
- 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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