- YI: 0 (Often the area around the Yogi Index zero line acts as an area of support or resistance for the overall market, so it will be interesting to see what happens next. No guarantees of course.)
- Probable bottom in this area for: $PLAT
- Trying to bottom out in this area: PPC
- Attempting to hold the 28 DMA here: PG
- Attempting to break above the 28 DMA: $OEX, $SPX, BGF, CDE, EWA, EWI, FXI, GOOG, IBM, LDK, LUFK, SUN
- Attempting to break above the 65 DMA: $DJX, $OEX, $SPX, CEF, CNK, LUFK
- Moderately overbought in this area: ACAS, AKNS, ALEX, CAKE, ERIE, IDA, IWM, KBE, KGC, LEN, TPX, WOR
- Standard overbought at this point: BPOP, CREE, DVY, KBW, KFT, NST, PBCT, PNRA, USB, WSO
- Toppy here: RGLD, SHLD, TLB
- And as is always the case, 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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