- Yi: +4.25
- Possible bottom in this area for: SPWRA
- Now trying to bottom out: $VIX and BPOP
- Standard oversold: $VIX
- Moderately oversold: $BDI weekly chart and DELL
- Attempting to break above the 28 day: $HGX, NM, NTES, SSRI, TSL, URE, WFR
- Attempting to break above the 65 day: OCR, UGA, USB, V
- Moderately overbought now: $SOX, AMAT, AVAV, NTES, PTEN, TPX, VFC, WOR, X, XLF, XLU
- Standard overbought: USD, WDC, WHR
- Anything postd 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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