- Yi: +7.8
- Now attempting to bottom out: AMSC, EEFT, EWJ, FCX, GLW, HPQ, NOK
- Extremely oversold: BAC
- Standard oversold: AMAT, EEFT, EWI, RAIL
- Moderately oversold: $DJW, BBT, CSCO, IWM, QLD
- Now trying to hold some rising trendline support: $NYA50R-weekly, A, AVAV
- Attempting to hold the 65 DMA here: DDM, DELL, IYY
- Attempting to hold the 28 day: DVY
- Trying to hold falling trendline support: NTES
- Up against some falling trendline resistance: EXP
- Moderately overbought now: $GOLD, GLD, NFLX
- Toppy here: CNK
- 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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