- Yi: +5.9
- Trying to bottom out: $DJW, $GASO, $NYA50R, $OEX, $WTIC, SEE, SHI, SU, UYG
- Extremely oversold: SHI and SNDK
- Average oversold: SEE and SU
- Moderately oversold: $DJW-weekly, $IIX, UYG
- Now trying to hold some rising trendline support: $VIX
- Up against the 28 DMA here: RJA
- Up against some falling trendline resistance: $DJGSP, $XAU, SCHB, SCHC, SWK
- Anything posted here may be off base, and there may be more opinions later.
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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