- Yi: -1.4
- Now trying to bottom out: B, CAT, FXI
- Extremely oversold: CHK and OIL
- Oversold: $FXT, $XOI, AXP, FXI
- Moderately oversold: $DJW, $NDX, AAPL, AMCC, BAC, C, CSCO, CTB, DIS, EWA, F, FEU, FNDF, GPC, MED, GPC, MED, MKC, NOK, ROK
- Attempting to hold the 65 DMA here: BMY, CSL, INTC, QCLN
- Attempting to hold the 28 day: LOW, MSFT, NFLX
- Up against the 28 day: $COPPER
- Moderately overbought: $VIX, FXF, PHI
- A break out either way is on the way for: COH
- 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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