- Yi: +5.6
- A possible bottom may be in place for: $CRB
- Trying to bottom out: CSIQ, CVS, CWI, $GASO, WEAT, $WTIC
- At the average oversold level now: DYN
- Moderately oversold now: IYE, MCD, MTH
- Attempting to hold the 65 DMA here: SGG
- Up against falling trend line resistance: DRI
- Moderately overbought now: GLDI, MED, MSI
- At the average overbought level now: B, BGS, GOOG, PTM
- Toppy here: IP
- A possible top may be in place for: IYG
- A break out in either direction is on the way for: CANE
- 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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