- Yi: +0.8
- Trying to bottom out: CMG
- Moderately oversold: DM
- Attempting to hold the 28 DMA here: CI
- Up against the 65 DMA: CSIQ and DB
- Up against the 28 day: F, GM, GT
- Moderately overbought now: AXP, B, C, CAT, CHK, COPX, $CRB, $DJW, EFV, FNDF, $FXT, $GASO, GF, $HGX, IJH, IJR, IYJ, IWM, MDY, $PLAT, $SILVER, $SPX, $WTIC
- Average overbought: BMY
- 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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