- Yi: +1
- Possible bottom here for: FRO
- Trying to bottom out in this area: ARM, ENER, GM, LEN, SUN
- Moderately oversold: BA, CHK, IDA, LEN
- Attempting to hold the 28 day moving average: $WTIC, ARM, DELL, NM, PG
- Attempting to hold the 65 DMA: CHK, IRF, MOT
- Attempting to break above the 65 day moving average: GE, GPC, NST, NWL, SKS, USB, UYG, WFC
- Moderately overbought: BMY, PEG, RGLD
- Standard overbought: NEM, PHI, SHI
- Going parabolic: NTES
- 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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