- Yi: -5.8 The market is solidly, but not yet extremely oversold, and is trying it's best to bottom out in this area at least for the short term. No guarantees of course.
- Now trying to bottom out: AMCC, IJH, IJR, NCR
- Extremely oversold: $DJW, $HGX, $NDX, $XAU, XOI, AA, ATI, BA, CHK, CSIQ, DB, DBC, DBO, EWI, HPQ, IYG, PHI
- Oversold: $DJGSP, CAT, CNK, CSCO, GG, IP, JNUG, LEN, LPL, MDY, MTH, NUGT, NUS, PEGI, PTEN, XLK
- Moderately oversold: $UST30Y, ASA, AVAV, BGS, DM, FB, GDDY, GDX, GLW, GOOG, IDA, MAT, MKC, MSFT, NEM, PEP
- Up against the 28 DMA here: CORN
- Moderately overbought: DUST and JDST
- A break out in either direction is on the way for: $SILVER
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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