- Yi: -3.6
- A possible bottom here for: $HGX, $SPX, $XOI, AA, AMCC, AVP, BA, BAC, C, CAT, CSIQ, CVY, MOS
- Trying to bottom out: $COPPER, $CRB, $GASO, $NDX, $PLAT, $WTIC, AIG, ATI, AU, B, CHK, CREE, DBC, DBO, F, FB, FXI, GT, I, LEN
- Extremely oversold: $XAU and DB
- Moderately oversold: ASA, AVAV, COST, DM, FXF, GDDY, GDX, GOOG, LOW
- 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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