- Yi: -4
- Probable bottom here for: AA, ASA, CBK, JASO
- Possible bottom here for: $WTIC, $XAU, ABX, AEM, AMAT, DELL, EEFT, EGO, GDX, GG, HMY, IRF, KGC, MOT, MSCC, NEM, NOK, NWL, PBY, PTEN, SHLD, TSL, WSO
- Trying to bottom out in this area: $GOLD, $HGX, BPZ, CAT, GTU, IFN, MBI, OCR, PLL, QCOM, QQQQ, SKS, SPWR, SU, TAN, TIE, TPX, TSM, UGP, URE, USD, UYG, V, WFR, WOR, XLF
- Extremely oversold: $SOX, ACAS, ACF, AVP, B, BGF, C, CNK, CREE, CTB, ELN, EWA, EWI, FCX, FRO, FXI, GE, GF, GFI, IBM, IWM, LDK, LEN, LMT, LOW, LUFK, MER, NTES, PBW, PNRA, ROK, TKR, VFC, WATG, WY, X
- Standard oversold: AXB, DVY
- Moderately oversold: MCD
- Toppy here: $USD
- Anything 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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