- Trying to bottom out in this area: EXP, FRO, GF, GLW, IFN, LOW, MTH, NM, PBW, PLL, SUN, WHR, WY
- Extremely oversold here: EWI, LDK, TAN, TKR, USD, WOR, X
- Standard oversold at this point: GF, KFT, LUFK, MCD, MMC, PBW, SEED, SWK, TIE, TSL, XLU
- Moderately oversold now: IBM, MFE, MKC, MSCC, NAT, NST, PLL, QCOM, QQQQ, SPWRA, STX, SYY, TOT
- Trying to hold the 28 day moving average here: FCX, NTES, VFC, WATG
- Trying to hold the 65 day moving average: IBM, KGC, SHI, UGP, WDC
- Trying to break above the 65 DMA here: F and PNRA
- Trying to break above the 65 DMA: QID and SDTH
- 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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