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.
Not only toppy, but looks like that long day will be eaten alive when it turns.
ReplyDeleteIt seems this topping phase of the market is helping to support many stocks like PNRA, but as we get closer to the election, I expect that to change...
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