- Yi: +18.6
- Possible bottom here for: EGPT and GT
- Attempting to bottom out: AFL, B, BGS, BWA, CAKE, COF, CSL, CTB, CW, EROS, EQIX, GEF, HBI, $HGX, IBM, IJR, IP, LM, $NYA50R, QCLN, SEE, SMG, SPWR, TILE, TUP, WHR, WY
- Extremely oversold: $HGX, WHR, WY
- Average oversold: LBAI, PNC, TILE, TKR, VLY, VNO, XLY
- Moderately oversold: BA, PETX, RAIL, TD, TPX, USB, VDIGX
- Attempting to hold the 65 DMA: DM and XLNX
- Attempting to hold the 28 DMA: OILNF
- Up against falling trend line resistance: AEM, BALB, $COTTON
- Moderately overbought: GDX
- 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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