- Yi: +2
- Trying to bottom out in this area: $GOLD weekly, $XEU, ELN, GDX, GG, GM, PLG, RGLD, TLB
- Moderately oversold now: BMY
- Attempting to hold the 28 day moving average: CREE, LDK, UYG, WFC
- Attempting to hold the 65 day moving average: $WTIC, DVY, KO, MBI, PHI
- Moderately overbought now: CAT, GPC, IBM, LOW, PTEN, USB
- Standard overbought: GA and VFC
- Toppy here: $IIX, SHI, TPX, WOR
- A break out in either direction is on the way for: GLW
- 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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