- Yi: +5
- Possible bottom here for: $USD
- Trying to bottom out in this area: BPOP
- Extremely oversold now: $VIX
- Moderately oversold: TIE
- Attempting to hold the 65 day moving average: MSCC and TLB
- Attempting to hold the 28 day: AVAV, KO, XLF
- Attempting to break above the 65 day: SLV
- Moderately overbought now: DELL, NST, SDTH, USB, VFC
- Standard overbought now: EXP, F, LEN, MTH, SHI, STX
- Possible top here for: NTES and 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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