- Yi: +16.72
- Average oversold: ABX, CLF, CPB, CRUS, $NYA50R
- Moderately oversold: AA, C, CAT, GDX, GS, HBI, HD, IBM, IFN, $INDU, JNJ, MAIN, MCD, MED, MMM, NVDA, PFF, PG, PYPL, SIL, SNA, TGS, TPX, X, $XAU
- Trying to hold rising trend line support: IYE, JPM, LMT, WFC
- Attempting to hold the 65 DMA: UTX
- Attempting to hold the 28 DMA: BA, DBP, UGLD, Z, XRX
- Moderately overbought: $UST30Y
- Anything posted here could 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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