- Yi: +1.8
- Trying to bottom out in this area: RBS, WFR, WOR
- Extremely oversold now: WFR
- Standard oversold: KGC, NTES, X
- Moderately oversold now: AVAV, CTB, GLW, IFN, JOSB, MEOH
- Attempting to hold the 65 DMA here: ASA, EEFT, MOT, QLD, QQQQ, RGLD, SSO, VFC
- Attempting to break above the 65 day: QID
- Moderately overbought now: $VIX
- 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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