- Yi: +3.85
- A possible bottom here for: CPSL, PBY, RAIL, SHI
- Now trying to bottom out in this area: $HGX, ELN, GMR, MMC, RBS
- Average oversold now: CBK and ENER
- Moderately oversold: $HGX, ACH, COGO, CSL, DELL, EWI, KFT, NOK
- Attempting to hold the 65 DMA here: $XOI, CSCO, GF, GG, IFN
- Attempting to hold the 28 day: $IIX, AAPL, ACF, ASA, AVP, DVY, GE, OGE, SKS, WDC
- Attempting to break above the 28 day: EWJ and XLF
- Moderately overbought now: X
- Going parabolic: TSL
- A break out in either direction is on the way for: NWL
- 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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