- Yi: -3.5
- Trying to bottom out in this area: ACF, AMAT, ARM, AXB, AXP, CSL, EEFT, IFN, JASO, PTR, TIE, WFR
- Extremely oversold in this area: BPOP, GM, MMC, MSCC, NOK, SKS, STX, WATG
- Standard oversold: CBK, PTR, SPWRA
- Moderately oversold: EEFT, NAT, PHI, SWK, TSL
- Trying to hold the 28 DMA here: $VIX, BGF, UGA
- Trying to hold the 65 DMA: FSLR and SHI
- Trying to break above the 28 DMA: GA, GOOG, MFE, TSM
- Moderately overbought now: $GOLD, ABX, LMT
- Standard overbought: SSRI
- 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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