- YI: -2
- Possible bottom here for: AIG
- Trying to bottom out now: BGF, CMG, FTO, TOT, WB, WOR, X
- Moderately oversold: NAT, SGP, WATG
- Attempting to hold the 28 DMA here: $HGX, $SOX, $XOI, AMAT, IDA, MCD, NWL, PAYX, QCOM, ROK, SDTH, STX, UDS, WHR
- Moderately overbought: CPSL
- Toppy here: CNK and ELN
- 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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