- Yi: +1 (So we are getting close to the zero line now, and it will be interesting to see if the market can find some support in the next trading day or two.)
- A possible bottom here for: CSIQ
- Now trying to bottom out: EWI, MFE, NM
- Extremely oversold now: $NYA50R, ACH, EWA, FUQI
- Oversold here: $DJW, $OEX, $SPX, $XOI, CHK, DDM, EWJ, F, GF, GMR, GOOG, IRF, KGC, KO, MEOH, NM
- Moderately oversold: $PLAT, $XAU, ACAS, AEM, ARM, ASA, B, BBT, CAKE, CAT, CREE, DELL, DVY, ELY, GDX, GG, HCBK, IBM, IDA, IFN, IWM, IYY, LEN, LPL, MBI, MOT, MSCC, MTH, NAT
- Trying to hold some rising trendline support: ABX and CBZ
- Attempting to hold the 65 DMA here: AAPL, BPOP, GG, JOSB
- Attempting to hold the 28 day: $GOLD and DM
- Overbought: $VIX
- 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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