- Yi: +3.4
- A possible bottom here for: ASA, CHK, CU, DB
- Trying to bottom out: $PLAT, $WTIC, AMCC, ARMH
- Extremely oversold: $CRB, $SILVER, ATI
- Moderately oversold: $GOLD
- Up against the 28 day DMA here: $NDX, C, CEF, CSCO, DBP
- Up against the 65 day: AXP
- Overbought here: BMY and CSIQ
- 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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