- Yi: +4.5
- Moderately oversold now: ABX, CEF, GDX, GFI, GG, GLD, MCD, OCR, PGM, RGLD, SLV
- Attempting to hold the 28 DMA here: KBE and WGW
- Attempting to hold the 65 DMA: ERIC and KFT
- Moderately overbought now: ACH, AMAT, BPZ, CSIQ, CSL, FCX, FRO, FXI, GTU, JASO, LDK, PHI, WFR, XLU
- Standard overbought: CBK, EWI, GF, IFN, NM, PBW
- Extremely overbought: $IIX, MFE, NAT, STX, V, WDC, WHR
- Toppy here: $SOX, B, F, GE, LOW, SHLD, SKS, WATG, WOR
- A break out in either direction is on the way for: $XAU, BAC, C, MBI, NTES, PLG, XLF
- 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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