- Yi: +2.5
- Trying to bottom out in this area: TPX
- Moderately oversold now: AXP, KFT, SDTH, SUN, SWK, T, VFC, WHR, WOR, WY
- Attempting to hold the 28 DMA here: $DJX, $OEX, $SPX, CAT, DDM, F, IBM, IWM, IYY, KBE, NAT, QQQQ, XLF
- Attempting to hold the 38 DMA here: USB
- Attempting to hold the 65 DMA: HCBK and XLU
- Attempting to break above the 28 DMA: ACAS
- Moderately overbought now: EGO, GLD, HMY, JASO, NEM
- Standard overbought: ABX, AEM, FSLR, KGC, WGW
- Extremely overbought: $XAU, ASA, GDX, GG,
- Toppy here: $CRB, $WTIC, AVP, NWL, SHI
- 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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