- Yi: +4.2
- Now trying to bottom out in this area: ELN, MBI, RBS, X
- Standard oversold now: NTES and QCOM
- Moderately oversold: BPOP, CAKE, ELN, JASO, SHI, X
- Attempting to hold the 65 DMA here: $HGX, BA, BAC, BBT, GE, IBM, KBE, MSCC, PAYX, TLB, URE, USD
- Attempting to hold the 28 day: $XAU, BMY, EGO, GF, IWM
- Moderately overbought now: RJZ and TKR
- Standard overbought: $GASO and RJI
- Extremely overbought: $CRB and LUFK
- Toppy here: LUFK
- A break out in either direction is on the way for: $GOLD
- 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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