- Yi: +4.65, +4.85
- A possible bottom here for: HCBK and HOGS
- Now trying to bottom out: AKAM, CAT, EWI, F, HPQ, PBW, PBY
- Extremely oversold: HOGS
- Standard oversold: $DJW, $WTIC, $XAU, $XOI, ATI, CLF, GDX, GOOG, NCR
- Moderately oversold: $CRB, $PLAT, ARMH, AVAV, AVP, IP
- Attempting to hold the 65 DMA here: $BDI, AXP, BLL, GF, NFLX
- Up against some falling trendline resistance: FSLR
- Up against the 65 DMA here: CNK and MMI
- Moderately overbought: $USD, $VIX, LMT
- A break out in either direction is on the way for: EWJ, MMC, PEP
- 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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