- Yi: +3.8
- Now trying to bottom out in this area: CHK, CPSL, ENER, MMC, MTH, PBY, SPWRA, SUN
- Average oversold here: CHK, EWJ, TLB, WFR
- Now moderately oversold: $SOX, ACH, AMAT, B, DELL, EEFT, GA, JOSB, LEN, MTH, PTEN, SHI, USD, XOP
- Attempting to hold the 65 DMA here: ARM, AVAV, BA, CSCO, OCR, OGE, USB, VOD, WHR, XLU
- Attempting to hold the 28 day: AAPL, ACF, AVP, DVY, GE, IYY, QLD, T, WDC
- Attempting to break above the 28 day: $USD
- Toppy here: TSL
- A break out in either direction is on the way for: V
- 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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