- Yi: +3
- Moderately oversold now: FSLR and GM
- Attempting to break above the 28 day moving average: HCBK
- Attempting to break above the 65 day: ENER and IDA
- Moderately overbought now: $SOX, AAPL, GOOG
- Standard overbought: CREE
- Extremely overbought: CSIQ and IFN
- Possible top here for: AVP
- A break out in either direction is on the way for: ARM and EWA
- More later. 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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