- Yi: +4.75
- Possible bottom here for: QID
- Trying to bottom out in this area: $USD
- Moderately oversold now: $BDI-weekly
- Attempting to hold the 65 day: CSIQ
- Attempting to hold the 28 day: F
- Attempting to break above the 28 day: AVAV and RJA
- Moderately overbought now: $PLAT, B, BA, FRO, PHI, SEED, T, TSM
- Toppy here: $XOI, AXP, EWI, FCX, GF, GOOG, IDA, LEN, MEOH, PAYX, QQQQ, SWK, SYY, UGP, WHR, X
- Possible top here for: C, OGE, RX
- Aything 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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