- YI: -5 (So the market is "officially" oversold now.)
- Possible bottom here for: BAC, BPOP, KEY, NYB, and XLF
- Trying to bottom out in this area: AIG, AMD, the BKX index, BMY, GPC, LEN, MMC, NWL, RNR, and WB
- Extremely oversold now: GOOG
- Standard oversold at this point: ARM, CBK, MER, NLY, NOK, the S&P-500, and TTH
- Moderately oversold: ACAS, CSL, GIS, LOW, MDC, PBY, PLL, RYL, and SNA
- Trying to hold some rising trend line support: ACH, ERF, FRO, MKC, and TICC
- Trying to hold falling trend line support: CREE, MCD, MOT, and VFC
- Attempting to hold the 28 DMA here: BHP, PDS, RGLD, RIO, and XPLT
- Moderately overbought now: GFI
- Possible top here for: AEM
- Toppy: GFI
- 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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