- Yi: -3
- Possible bottom here for: GA
- Trying to bottom out in this area: B, BA, CBK, CDE, CLF, ELN, FXI, JASO, MOT, PBW, ROK, STX, SU, TIE, TOT, UGP, WATG, X
- Extremely oversold now: $IIX, $PLAT, $SOX, $VXO, $XOI, AA, ACH, AMAT, CAT, CSIQ, GF, GM, GOOG, NOK, PG, PTEN, QQQQ, SHI, SKS, SPC, TSL, USD, UYG
- Standard oversold: $CRB, $WTIC, AAPL, AKNS, BGF, CAKE, ERIE, EWA, EWI, FTO, IYY, NEM, PEG, T
- Moderately oversold: $XAU, BNI, CSL, IDA, IRF, IWM, MKC, NAT, NWL
- Attempting to hold the 28 DMA here: ACF, AEM, AVP, BPOP, CREE, GDX, GG, GIS, KFT, PEP, TPX
- Attempting to hold the 65 DMA here: KBE, MCD, NST, OCR, PAYX, PNRA, SYY, VFC
- Moderately overbought now: KBW
- And as is always the case, 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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