- Yi: +3.4
- A possible bottom here for: WFR
- Now trying to bottom out: SPWRA and SUN
- Average oversold now: PBY, RBS, SHI
- Moderately oversold: B, BAC, C, CAKE, GPC, HCBK, IRF, IWM, JASO, KBE, MOT, PBW, PLL, SHLD, UYG, WSO
- Attempting to hold the 65 DMA here: $WTIC, FXI, MSCC, OCR, PTR, RJZ, ROK, SKS, STX, SU, URE, USB
- Attempting to hold the 28 day: QLD, QQQQ, SSO
- Attempting to break above the 28 day: CHK, MEOH, OGE
- Attempting to break above the 65 day: SDTH
- Moderately overbought now: NST
- Toppy here: CLF and CNK
- Probable top here for: PGM
- 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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