- Yi: +5
- Trying to bottom out in this area: MCD
- Attempting to hold the 28 DMA here: OCR
- Attempting to break above the 65 DMA: PLG and SLV
- Moderately overbought now: ELN, LPL, LUFK, PEG, PRBLX, RJA, RJI, RJZ, SYY, UGA
- Standard overbought: AA, AVP, CLF, CPSL, CREE, CSIQ, ENER, FRO, FXI, PTR, SU, XOP
- Extremely overbought: CAT, NWL, RBS, STX, TSL, UGP, WSO
- 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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