- Yi: +5.6
- A possible bottom in this area for the: $VIX
- Now trying to bottom out: $BDI and BPZ
- Moderately oversold: EEFT, NTES, SDTH
- Trying to hold some rising trendline support: $CRB, $XAU, ABX, C, CHK, CREE, CSCO, IYY, JASO, JOSB, NEM, NTES, NWL, PBW, ROK, USD, VFC, WATG, WDC, WFR, WHR
- Attempting to hold the 65 DMA here: WFC
- Attempting to hold the 28 DMA here: $IIX, A, SUN
- Trying to break above some falling trendline resistance here: PEP
- Moderately overbought now: AVAV and IDA
- Overbought: CAT and EWJ
- Extremely overbought: MEOH
- Toppy here: $DJW, $NYA50R, $PLAT, ACF, CNK, FRO, GE, GF, GLW, GMR, LEN, NM, PHI, PLL, SEED, USB
- A probable top here for: F
- Going parabolic: SHLD
- 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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