- Yi: -5
- Now in "waterfall declines" or "reverse parabolic arcs", which normally means some type of bottom is getting very close at hand: $CRB, $IIX, $SOX, $SPX, $XOI, AA, AAPL, AMAT, B, BGF, CLF, CSIQ, EWI, FXI, GF, GLW, GOOG, IWM, IYY, JASO, LDK, LUFK, MEOH, MOT, NWL, PBW, PEG, PLL, PTEN, PTR, QQQQ, ROK, SDTH, STX, SU, TAN, TIE, TOT, TSL, UGP, USD, V, WATG, WDC, WFR, X, XLU
- Possible bottom here for: $PLAT, FXF, NOK, SLV
- Trying to bottom out in this area: AEM, CTB, EEFT, EGO, IFN, KGC, SEED
- Extremely oversold now: $WTIC, ASA, COGO, ELN, GE, GFI, IBM, MTH, NEM, T
- Moderately oversold: ACF, ERIE, PEP, PHI, WY
- Trying to hold the 65 DMA here: PBCT
- Extremely overbought now: $USD
- 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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