- Yi: + 43.03
- Attempting to bottom out: BBY, CAKE, CAR, MMM, PFE
- Oversold: MMM, OIL, SU, USB
- Moderately oversold: EFV, FLR, LIN, TAP, UGA
- Attempting to hold some falling trend line support: PM, VALE
- Attempting to hold the 28: PPLT
- Up against the 28: $NDX, QQQ
- Up against some falling trend line resistance: MARA
- 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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