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.
Thursday, October 20, 2022
MU 10-21-2022
Yi: + 40.13
Extremely oversold: BAL, BIDU
Trying to hold rising trend line support: GILD
Attempting to hold the 28: RGR
Up against falling trend line resistance: ADM, CBRL
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