- Yi: -5.1
- A possible bottom here for: $FXT
- Now trying to bottom out: $DJW, ARMH, CNK, CSIQ, CWI, EFV, EGPT, FNDF, FXI, GPC, GT, HSNI, HSY
- Extremely oversold: $BDI, $HGX, BAC, EWA, EWA, F, FEU
- Oversold: DIS, GF, IJH, IJR, INTC, IWM, IYG, IYJ
- Moderately oversold: MDY, RTH, XLK
- Attempting to hold the 28 DMA here: AU
- Up against the 28 day: CMG
- Overbought: $VIX
- A break out in either direction is on the way for: CVS and FXF
- Anything posted here could be off base of course.
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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