- Yi: -5.0
- Possible bottom here for: $DJW, $GASO, $HGX, $WTIC, AXP, BAC, DBO, IWM, NOV
- Trying to bottom out: ARMH, AVAV, BA, C, CSIQ, CVY, CWI, EBAY, EFV, EWI
- Extremely oversold: DYN
- Attempting to hold the 65 DMA here: $NYA50R, CAT, COPX
- Moderately overbought: BGS and CSCO
- Extremely overbought: CEF
- Has gone parabolic: DBP
- 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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