- Yi: -0.5
- Standard oversold now: NWL
- Moderately oversold: $USD, $VIX, $VXO
- Trying to break above the 28 DMA: BNI, CNK, LDK, LPL, PBY, TAN, TLB, TSL, WDC
- Trying to break above the 65 DMA: $HGX, $IIX, $PLAT, BGF, CAKE, CAT, CLF, IFN, IRF, MTH, PGM, SWK, WB, WFC
- Moderately overbought now: CEF, ERIC, FXF, LEN, LOW, MFE, NTES, ROK, SUN
- Toppy here: $GOLD and SHI
- 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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