- Yi: +1.1
- A possible bottom here for: AA
- Now trying to bottom out: COPX, CREE, CSL
- Extremely oversold: AVP, CAKE, CHK, CMG
- Oversold: AXP, CU, CVS, DB
- Moderately oversold: $DJW, $SPX, $XOI, AAPL, CLF, COH, CTB, CWI
- Attempting to hold the 65 DMA here: BAC and CNK
- Attempting to hold the 28 day: $NDX and AMCC
- Anything posted 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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