- Yi: +2.5
- Possible bottom here for: C, CHK, CLF, ENER, GDX, GTU, HMY
- Trying to bottom out in this area: AEM, ASA, BPOP, CEF, CREE, EEFT, EXP, GLD, MOT, PAYX, SEED, SHLD, SLV, SYY
- Attempting to hold the 65 day: AVP, EWJ, FXI, GG
- Attempting to hold the 28 day: LPL
- Attempting to break above the 38 day: USB
- Attemping to break above the 28 day: $SOX, BPZ, JOSB, KBE, NM, NOK, NTES, NWL, QQQQ, UYG, WFC, XLF
- Attempting to break above the 65 day: GLW, IRF, IWM, JASO, LOW, PTEN, SWK, TSL
- Moderately overbought: KFT, MFE, PG, PLL, ROK, SHI
- 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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