- YI: -4.5
- Possible bottom here for: MER, SNE, S&P-500, T2118, and WY
- Trying to bottom out: ACH, GF, JCP, TKR, and V
- Extremely oversold: FNM and SUN
- Standard oversold: AAUK, TSM, and WFR
- Moderately oversold: TLB
- Trying to hold some rising trend line support: AEM, BHP, and MMC
- Trying to hold falling trend line support: AAPL, ERF, HON, PDS, and TTH
- Up against rising trend line resistance: BMY
- Trying to break above some falling trend line resistance: ACAS, DJ-30, PBCT, PEP, and UYG
- Attempting to break above the 28 DMA here: PG and TSU
- Moderately overbought: GFI
- Standard overbought: MKC
- 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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