- Yi: +5.1
- Moderately oversold now: $GASO and RJA
- Trying to hold the 65 day moving average: CNK, MTH, UGA
- Trying to hold the 28 day: ARM, AXP, DELL, RBS
- Standard overbought: GPC
- Toppy here: CAKE, CSCO, CTB, GPC, PG
- Possible top here for: RX
- A break out in either direction is on the way for: AVP, BGF, SHI
- 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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