- Yi: -4.5
- Trying to bottom out in this area: AKNS, BA, BPOP, GE, HMY, OCR, QQQQ, TLB
- Extremely oversold: WHR
- Moderately oversold: GTU
- Trying to hold the 28 DMA: GIS, GPC, PG, T
- Trying to break above the 28 DMA here: $GOLD, $PLAT, GLD
- Extremely overbought: PEG
- Standard overbought: $VIX
- 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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