- Yi: -5
- Probable bottom here for: $HGX and $SPX
- Possible bottom here for: ACF, B, BAC, BBT, CAKE, JOSB, KBE, SUN, URE, UYG, WOR, WSO, WY
- Trying to bottom out in this area: $XOI, AXB, AXP, CAKE, ELN, GM, IYY, JASO, KFT, LOW, SPWRA, STX, XOP
- Extremely oversold now: AA, ELN, NOK, PEG, QQQQ
- Standard oversold: RBS
- Moderately oversold: AAPL, AMAT, CSL, IBM
- Trying to hold the 65 day moving average: SLW
- Trying to break above the 28 day moving average: FXF, LPL, PBY
- Moderately overbought now: $WTIC, FCX, GFI, SU
- Standard overbought: QID
- 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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