- Yi: -0.4
- A possible bottom here for: $GASO and COPX
- Now trying to bottom out: $XOI, ATI, CHK, CLF, CNK, CU, DB, DBO, FCX, OIL, QID
- Extremely oversold: $WTIC and DB
- Moderately oversold: $DJW, AA, B, CWI, EFV, EWA, F, FEU, FNDF, FXI, IP, NCR, RAIL
- Attempting to hold the 65 DMA here: $XAU, ASA, CSL, GG, NUGT
- Attempting to hold the 28 day: ABX, AIG, ARMH, CREE, QCLN
- Up against the 28 day: PEGI
- Moderately overbought: AVAV and NUS
- 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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