- Yi: -2
- Possible bottom here for: AKNS
- Trying to bottom out in this general area: AA, AXP, BA
- Moderately oversold: AMAT and BNI
- Moderately overbought now: $USD, $XAU, AVAV
- Standard overbought: ASA and CEF
- Toppy here: $BDI and $GOLD
- A break out in either direction is on the way for: C
- More later if I have the time. 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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