- Yi: +1
- Average oversold: ACH, RJI, RJZ
- Moderately oversold in this area: A, ACF, BBT, CAT, CBK, CLF, COST, DVY, EWA, EXP, FXI, GPC, IDA, IWM, LOW, OGE, PEP, PG, SHI, SSRI, T
- Now trying to hold some rising trendline support: $IIX and URE
- Attempting to hold the 65 DMA here: BGS and SLW
- Attempting to hold the 28 DMA here: $GOLD, AAPL, ABX, GLD
- Now trying to hold falling trendline support: EWI
- Now up against the 28 day: CBZ
- Up against falling trendline resistance: $WTIC
- Moderately overbought now: CHK
- 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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