- And so the "Yi" FINALLY broke down to a +3.5 reading.
- Standard oversold now: SUN
- Moderately oversold: CREE, CTB, HMY, KGC, LEN, NWL, PEP, YGE
- Attempting to hold the 28 day moving average: $SPX, ACF, AXP, BGF, GOOG, IYY, NOK, NTES, TSL, XLF
- Attempting to hold the 65 day: ABX, C, LPL, RGLD, V
- Moderately overbought now: ACAS, IDA, XLU
- Toppy here: DELL and EEFT
- Possible top in place for: PHI
- A break out in either direction is on the way for: TPX
- 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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