- Yi: +3
- A possible bottom here for: LMT
- Trying to bottom out in this area: AVAV, BBT, BNI, COGO, GE, KGC, LOW, MBI, NOK, SHI, SPWRA, TAN, YGE
- Extremely oversold now: LDK
- Standard oversold: $HGX, CPSL, GMR, MBI
- Moderately oversold: $SOX, ACAS, ACH, BPZ, CHK, CSL, DELL, ENER, F, FUQI, GPC, IWM, MTH, OCR, SEED, SPWRA, TIE, TLB, TSM, USD, XLU
- Attempting to hold the 65 DMA here: $IIX, $OEX, $PLAT, $SPX, $XAU, ARM, AVP, B, BPOP, CHK, CSCO, CTB, EWI, GDX, GF, IYY, PHI, ROK, SDTH, SLV, SLW, STX, URE, WDC, WY
- Attempting to hold the 28 day: AAPL, CAT, MMC, WHR, WSO
- Attempting to break above the 28 day: QCOM
- Standard overbought now: V
- A break out in either direction is on the way for: CBK
- 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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