- Yi: +4.3
- Trying to bottom out here: HMY, JASO, LDK, LEN, YGE
- Moderately oversold now: NAT and TAN
- Attempting to hold the 65 DMA here: EWJ
- Attempting to hold the 28 day: $XEU, ASA, GG, IBM, SLW, VOD
- Attempting to break above the 28 day: BGF
- Attempting to break above the 65 day: PEG
- Moderately overbought now: BMY, MFE, WATG
- Standard overbought: BA
- Possible top here for: RAIL
- 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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