- Yi: +2.5
- Now trying to bottom out in this area: $BDI-weekly, CPSL, FRO, GLW, GMR, WATG, WFR, YGE
- Extremely oversold here: ENER and FSLR
- Standard oversold: MFE, SPWRA, TAN, YGE
- Moderately oversold: $CRB, AA, ACH, AMAT, BPZ, CAT, CBK, ELN, GA, GMR, IFN, LUFK, NM, PBW, PBY, QCOM, RAIL, RJA, RJI, SHLD, SU, TIE, TSL
- Attempting to hold the 65 day here: $PLAT, $WTIC, AA, F, GE, GPC, LOW, PHI, T, TOT, TPX, UGA, WFC, XOP
- Attempting to hold the 28 day: $OEX, $SPX, $XEU, AXP, BAC, C, EWI, FCX, GF, IYY, KBE, MEOH, USB, WDC, WHR, WY
- Moderately overbought now: $VIX
- 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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