- Yi: +2
- A possible bottom in for: LPL, SPWRA, TAN, WFR, WOR
- Now attempting to bottom out in this area: ACAS, BPOP, CHK, CPSL, GF, GLW, IRF, LDK, MSCC, MTH, NAT, NOK, PBY, SEED, SKS, SU, WSO
- Extremely oversold now: MBI
- Standard oversold: RBS
- Moderately oversold: EEFT, EWI, GLW, TLB, WFC, WSO, XLU
- Attempting to hold the 65 DMA here: PAYX, TLB, VOD, WATG
- Attempting to hold the 28 day: CNK
- Moderately overbought now: MOT and 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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