- Yi: +14.4
- Possible bottom here for: BBBY, CC, DLPH
- Attempting to bottom out in this area: AMZN, AQUA, CORN, EBAY, EROS, EYE, GE, GF, HPE, JWN
- Extremely oversold: DB, GS, LOW
- At the average oversold level: CAR, EYE, HD
- Moderately oversold: AVAV, CHK, CIEN, COF, CNK, COST, CVY, DIS, $DJW, HAS, IBM, IJR, IWM, JNPR, KOL, MDY
- Trying to hold rising trend line support: CSCO, JNJ, MMM
- Attempting to hold the 65 DMA: CANE, CHD, CVA
- Attempting to hold the 28 DMA: AVP, CSX, GPC, KDP, MET
- Up against falling trend line resistance: GDX
- Moderately overbought: BGS and JACK
- Anything posted on these pages 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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