- Yi: -5.2 The market is now "officially oversold" according to the Yi indicator.
- Now trying to bottom out: $DJGSP, $NYA50R, DM, PYPL
- Extremely oversold: C
- Oversold: EGPT and RGLD
- Moderately oversold: ASA, COST, HSNI, NFLX, PG, RJR
- Up against the 65 DMA here: CMG
- Moderately overbought: PEG
- 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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