- Yi: +2.84
- A possible bottom forming here for: WDC
- Trying to bottom out in this area: LOW, OCR, STX
- Oversold: CSL and OCR
- Moderately oversold: FRO, LEN, LMT, LOW, USD, WSO
- Trying to hold some rising trendline support: $IIX, A, ACAS, ACH, AXP, BPOP, COGO, CSCO, IDA, MEOH, PHI, SUN, TSL, WFC
- Attempting to hold the 65 DMA here: $GASO, BA, EEFT, JASO, NAT, YUII
- Attempting to hold the 28 day: $GOLD and FUQI
- Trying to hold falling trendline support: BAC and CSL
- Up against some falling trendline resistance here: $VIX
- Toppy here: MBI and T
- 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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