- Yi: +5
- Now moderately oversold: AMAT, ELN, QCOM
- Now trying to hold the 65 day moving average: ACF and LPL
- Trying to hold the 28 day: FUQI and MEOH
- Trying to break above the 65 day: GA
- Moderately overbought now: AVAV, LOW, RAIL, SHLD
- Standard overbought: CAKE, PG, SDTH
- Toppy here: FSLR, JOSB, LMT, PAYX, TAN, WFR, XLF, XLU
- Possible top here for: $DJX, $OEX, $SPX, BA, CTB, DDM, GF, IBM, KO, SPWRA
- 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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