- YI: -3
- Trying to bottom out in this area: ALEX, BAC, the BKX index, GM, KEY, MER, MMC, MOT, PBY, and WB
- Extremely oversold now: MPG
- Standard oversold: MER and SNE
- Moderately oversold now: AIG, the BKX index, DVY, GPC, LOW, MEOH, the S&P-500, UGP, XLF, and XMSR
- Trying to hold some rising trend line support here: AEM, AVP, CREE, DVY, EWJ, GG, GGB, GOOG, IFN, MSCC, RNR, TKR, WSO, and XSLV
- Trying to hold falling trend line support: CBK and OKE
- Attempting to hold the 28 DMA here: The DJ-30, EXP, FNM, IDA, IWM, NSM, NWL, QQQQ, SEE, SYY, and WY
- Trying to break above some falling trend line resistance: ASA, ERF, and JNJ
- Attempting to break above the 28 DMA here: NST
- Moderately overbought now: ROK
- Toppy here: GIS
- Anything posted 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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