- YI: -2.5
- Extremely oversold: SPC
- Oversold: TLB
- Moderately oversold: TKR and WB
- Trying to hold the 28 DMA here: B, COGO, IWM, QQQQ, SHLD
- Moderately overbought: BNI, CREE, EEFT, PBW, PPC
- Toppy here: GIS, MMC, NST, NTES, OCR
- 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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