- YI: +4.5
- Trying to bottom out in this area: GM
- Trying to hold some rising trend line support: MCD and UGP
- Attempting to hold the 28 DMA here: MPG
- Up against rising trend line resistance: EWJ and SVU
- Trying to break above some falling trend line resistance: GF, GLD, KO, T, TLB, VFC, and XLF
- Attempting to break above the 28 DMA here: WHR
- Moderately overbought now: ACAS, LEN, OKE, and STX
- Standard overbought: CY, HON, SNE, and TTH
- Toppy here: SNA and TOT
- Has gone parabolic: BHP
- Anything posted here 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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