- Yi: -5.0
- A possible bottom here for: $COPPER, $DJW, $XOI, AA, ASA, ATI, AVP, CAT, CHK, CSIQ, DBC, DBO, DIS, EWA, EWI, FNDF, HPQ, IJH, IJR, JCP, LEN, MSI, XLK
- Now trying to bottom out: $HGX, $SPX, $XAU, AIG, ARMH, BA, COST, CSL, CVY, CWI, DYN, EFV, EGPT, FEU, GF, GLW, GOOG, JNJ, JNUG, LPL
- Extremely oversold now: C
- Oversold: GG
- Now up against the 65 day moving average here: EROS
- Moderately overbought: M
- Toppy here: $VIX
- 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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