- Yi: +25.2
- Attempting to bottom out: MED
- Average oversold: EGPT, LYFT, PPC, $NYA50R, $UST30Y
- Moderately oversold: BAL. BABA, BBGI, BIDU, MSFT, PCRFY, PINS, TSM, WEAT
- Trying to hold rising trend line support: NTES
- Trying to hold falling trend line support: BNS and NOV
- Attempting to hold the 28 DMA: CANE, NOW, NVDA
- Moderately overbought: QID
- Getting toppy in this area: GOLD, KR, NEM
- 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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