- YI: -2.5
- Possible bottom here for: ELN
- Trying to bottom out in this area: $IIX, $SOX, $WTIC, $XAU, AA, ABX, ACH, AEM, CDE, EWA, GFI
- Extremely oversold: DELL and GFI
- Standard oversold: AAPL
- Attempting to hold the 28 DMA here: BPOP and ERIE
- Attempting to break above the 65 DMA: CAKE
- Moderately overbought: $VXO
- Toppy here: CBK
- 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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