- Yi: +0.5
- Moderately oversold now: BBT, GIS, USB
- Now trying to hold the 28 day moving average: $HGX, $OEX, $XAU, ABX, AVP, BMY, CAT, CSIQ, DDM, DVY, GDX, IFN, MFE, NAT, PTR, TSM, VFC
- Now trying to hold the 65 day moving average: $DJX, $GOLD, $SOX, $SPX, AA, CTB, FRO, GOOG, GPC, LMT, NOK, OGE, PBW, SPWRA, T, TSM, X
- Standard overbought: OGE
- 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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