- YI: -3.5
- Possible bottom in this area for: $WTIC and WDC
- Trying to bottom out: $CRB, $PLAT, CEF, ELN, FXF, SLV
- Extremely oversold: WGW
- Standard oversold: BZP, CAT, DELL, PTEN, TSL, WOR
- Moderately oversold now: ALEX, CNK, IDA, QCOM, RGLD, TKR
- Attempting to hold the 28 DMA here: NTES, PHI, SPWR
- Moderately overbought now: PLG
- Standard overbought: NWL
- Toppy here: ACF, LOW, VFC
- 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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