- YI: -2
- Trying to bottom out: JNJ
- Extremely oversold: ACH
- Standard oversold: DJ-30, KFT, S&P-500, T, and WY
- Moderately oversold: AA, GOOG, SNE, and TSM
- Trying to hold some rising trend line support: SYY, UGP, and XPLT
- Trying to hold falling trend line support: ASA, C, EWI, EWJ, GF, IBM, IFN, MER, and PEP
- Attempting to hold the 28 DMA: FCX
- 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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