- Yi: -2.4
- Trying to bottom out: B, FXI, GXC, IP, MMC, PG, PHI
- Oversold: AVAV
- Moderately oversold: IDA and USB
- Trying to hold the 28 DMA here: GFI
- Up against the 28 day: HPQ
- Up against the 65 day: $HGX and COST
- Moderately overbought: $GOLD and BGS
- A break out in either direction is on the way for: WFM and YYY
- Anything posted here may be way 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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