- YI: -4
- Standard oversold: AEM and ERF
- Moderately oversold: GG
- Trying to hold falling trend line support: ERF and XSLV
- Attempting to hold the 28 DMA here: ABX, GFI, GLD, and QID
- Up against rising trend line resistance: JNJ
- Trying to break above some falling trend line resistance: NST, SNE, and TLB
- Attempting to break above the 28 DMA here: EWJ, EXP, and KO
- Moderately overbought: HMC, PEP, PG, PHI, SEE, SNA, and WFC
- Toppy: WSO
- 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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