- Yi: +3.5
- Possible bottom here for: SUN
- Trying to bottom out in this area: $VIX and FSLR
- Standard oversold now: ENER
- Moderately oversold: ELN
- Attempting to hold the 28 day here: $DJX and TLB
- Attempting to hold the 65 day: $XOI, GA, RGLD, T
- Attempting to break above the 28 day: DVY, EWI, GF, URE, XLF
- Attempting to break above the 65 day: CEF, EXP, IRF, LOW, PTEN
- Moderately overbought now: BAC, CNK, ERIC, EWA, EXP, GPC, LDK, PEG, ROK, SKS, XLU
- Standard overbought: ARM, AVAV, MFE, PEP, TPX
- Toppy here: ACF, AVP, OGE, QQQQ, WDC
- A break out in either direction is on the way for: AKNS, BBT, EEFT, WY
- Anything posted here my 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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