- Yi: +0.6
- A possible bottom here for: JASO
- Trying to bottom out here: CSIQ, LDK, MSCC, OCR
- Moderately oversold here: AMSC
- Now trying to hold some rising trendline support: $VIX
- Trying to hold falling trendline support: EXP
- Up against the 28 DMA here: AVP
- Up against falling trendline resistance: AA, CAKE, CNK, DDM, KBE
- Moderately overbought: BGS and BMY
- More later. 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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