- Yi: +3
- Trying to bottom out in this area: ELN, NTES, QCOM
- Standard oversold now: WFR
- Moderately oversold: BAC, BNI, CSIQ, LPL, MSCC, SPWRA, SSRI
- Attempting to hold the 65 DMA here: $SOX, CHK, GA, GE
- Attempting to break above the 28 day: OCR
- Standard overbought now: WHR
- Toppy here: PTR
- A possible top in place for: UGA
- A break out in either direction is on the way for: JOSB
- 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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