- Yi: +0.85
- Now trying to bottom out: $GASO, $WTIC, $XAU
- Extremely oversold: $IIX, $XOI, A, AA, AKAM, AMAT, ARMH, AVP, C, CAT, CLF, CREE, CSIQ, DDM, DZZ, EGPT, FRO, FSLR, GM
- Standard oversold: $CRB, $WTIC, ACH, AVAV, B, BBT, BGS, DELL, EWJ
- Moderately oversold: BMY, CHK, CNK
- Now trying to hold some rising trendline support: EEFT
- Attempting to hold the 65 DMA here: GOOG
- Up against the 65 DMA here: DUST
- Extremely overbought: $VIX
- Going parabolic: DGP and GLD
- Anything posted here may be off base. More may be posted later on in the trading day.
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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