- Yi: -5
- Trying to bottom out in this area: CTB
- Extremely oversold now: CAT, CLF, FRO, JASO
- Standard oversold: CBK, GIS, JOSB
- Moderately oversold now: CSL and KO
- Trying to hold the 28 DMA at this level: $GOLD and HMY
- Trying to hold the 65 DMA: $IIX, $WTIC, AEM
- Trying to break above the 28 DMA here: $CRB, BPOP, CREE
- More later. 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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