- Yi: +1.5
- Trying to bottom out in this area: MKC
- Moderately oversold now: $VIX and CSL
- Attempting to hold the 28 day moving average here: BPOP
- Attempting to hold the 65 DMA: ERIC
- Now trying to break above the 65 DMA: BNI, CTB, ERIE, IWM, LMT, MEOH, MMC, TAN, TKR, WHR
- Moderately overbought in this area: $DJX, AKNS, BNI, CPSL, CSCO, CSIQ, FSLR, IWM, JASO, KO, LDK, MTH, PAYX, PBW, PHI, SWK, TAN, TKR, TPX, WATG, WHR
- Standard overbought: AMAT, EEFT, FXI, LOW, LPL, MFE, PNRA, RAIL, SHLD, USD, WFR
- Toppy here: $PLAT, CAKE, CLF, GLW, LOW, PTR, SSRI, TSM, WY
- A break out in either direction is on the way for: JOSB and SUN
- Anything posted here could 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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