- Yi: +5.8, +5.5
- Now trying to bottom out: $USD, BA, BAC, C, CHK, CREE, CSCO, CTB, DM, DVY, EGO, FRO, GDX, GE
- Extremely oversold: FRO
- Standard oversold: BAC, C, CAT, CSCO, CTB, DDM, DM, GDX, GE
- Moderately oversold: AAPL, BGS, CAKE, CHK
- Now trying to hold some rising trendline support: DPS
- Now trying to hold falling trendline support: $DJW
- Up against some rising trendline resistance here: EEFT
- Standard overbought: FAZ
- A break out in either direction is on the way for: AGQ and BMY
- Anything posted here could 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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