- Yi: -3.5
- Trying to bottom out here: $DJX, $OEX, AVP, CPSL, CSIQ, DDM, EWA, EWI, EWJ, GE, JASO, PG
- Extremely oversold: ARM, BAC, BBT, C
- Standard oversold: AA, BNI, GE, MSCC, PAYX, SKS, STX, TIE
- Moderately oversold now: $DJW, $DJX, $GOLD, $HGX, $SOX, $SPX, BA, CHK, CLF, CSCO, CSL, DELL, IFN, LEN, PTEN, TPX, XOP
- Trying to hold the 28 DMA here: ACAS, CNK, CREE, ELN, MOT, PLG, SSRI, SU
- Trying to hold the 65 DMA: $IIX, ASA, CBK, GLD, PLL
- 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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