- Yi: -0.5
- Probable bottom here for: ACAS
- Trying to bottom out in this area: BAC, KBE, LDK, UYG
- Moderately oversold now: PAYX and PEP
- Trying to hold the 28 DMA here: $OEX, $SPX, AAPL, IDA, JCP, MER, QQQQ, SUN, WATG
- Trying to hold the 65 DMA: B, COGO, CPSL, LOW, LPL, SLW, T
- Trying to break above the 28 DMA here: CREE, DELL, GF
- Trying to break above the 65 DMA: BPOP, FXF, PEG
- Moderately overbought now: BMY, EEFT, X
- A break out in either direction is on the way for: ROK
- 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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