- Yi: +12.0
- Extremely oversold: $GASO, $NYA50R, SU, TTM, $WTIC, XLE
- Average oversold: BNS and $SUGAR
- Trying to hold rising trend line support: $COPPER and STMP
- Trying to hold falling trend line support: MSFT
- Attempting to hold the 28 DMA: JO
- Extremely overbought: $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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