- Yi: +1
- Trying to bottom out in this area: ACAS, ARM, CPSL, DELL, WY
- Trying to hold the 28 DMA here: TLB
- Trying to break above the 28 DMA: $WTIC and UGA
- Trying to break above the 65 DMA: $DJX, $HGX, $IIX, $OEX, $SOX, $SPX, AA, CLF, IYY, JASO, NOK, PG, TPX, WFC
- Moderately overbought now: $XOI, CBK, EWJ, GF
- A bit toppy here: EGO and 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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