- Yi: +26.44
- Average oversold: AIG
- Moderately oversold: AFL, AXP, BA, DBI, DE, IBM, MTH, SNA, STMP, UGA
- Trying to hold rising trend line support: CSX, EWI, XLY
- Trying to hold falling trend line support: CSCO
- Attempting to hold the 65 DMA: FAST
- Attempting to hold the 28 DMA: FCX, GE, IYG, JPM, LOW, OMC, $SPX, TKR, TILE, TROW, WU
- Up against the 28 DMA: PBI
- Moderately overbought: DRI and $VIX
- 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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