- YI: -3.5 (If the YI can put in a higher low here, some type of rally may be in the cards.)
- Trying to bottom out in this area: $IIX, $OEX, AAPL, BA, BMY, GA, PAYX, USD, WDC, WFR, XLU
- Extremely oversold: SKS
- Standard oversold: MEOH
- Moderately oversold: CNK. LDK, MKC, SUN
- Attempting to hold the 28 DMA here: $HGX, GIS, KBW, KFT, MMC, MTH, SHLD, WOR, XLF
- Attempting to hold the 65 DMA: EXP, GG, JNJ, MCD
- Trying to break above the 28 DMA here: BZP
- Moderately overbought now: FNM and SPWR
- 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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