- YI: -1.5
- Possible bottom here for: ASA
- Trying to bottom out in this area: ABX and QID
- Extremely oversold: BHP, GFI, GG, GLD, PCU, and XSLV
- Oversold: OKE
- Trying to hold some rising trend line support: LEN and MEOH
- Trying to hold falling trend line support: PTR
- Trying to break above some falling trend line resistance: AAPL, ACAS, BPOP, GOOG, HON, PBW, PEG, SPWR, TPX, TSL, and WFR
- Attempting to break above the 28 DMA here: GM, T, TTH, and V
- Moderately overbought now: BPOP, IYY, NWL, and T2118
- Overbought: IWM, SEE, and WHR
- Possible top here for: QQQQ
- Toppy at this point: JNJ
- 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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