- Yi: +17.35
- Trying to bottom out: FSLR and GBTC
- Average oversold: C, EWI, JCP
- Moderately oversold: BBY. $DJTENG, EGPT, FEU, GF, JPM
- Trying to hold falling trend line support: JNJ
- Attempting to hold the 28 DMA here: B
- Up against the 28 DMA: CL and LEN
- Average overbought: FL
- A break out up or down is setting up for: AQUA and CRUS
- Anything posted 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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