- Yi: -5
- Probable bottom in this area for: GE
- Trying to bottom out in this area: ABX, BA, BGF, FXE, PNRA
- Extremely oversold now: GIS
- Moderately oversold: LEN
- Trying to hold the 65 day moving average: IBM
- Trying to break above the 65 DMA: $CRB, COGO, CPSL, MFE, QCOM
- A break out in either direction is on the way for: AAPL
- 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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