- Yi: +3.5
- Now moderately oversold: LMT and MBI
- Attempting to hold the 65 DMA here: $VIX
- Attempting to break above the 28 day: AXP, F, FUQI, JOSB, MEOH
- Attempting to break above the 65 day: ACH, NTES, RJA
- Moderately overbought now: ABX, AEM, B, CLF, CNK, EXP, GDX, GG, HMY, KGC, NEM, RGLD, SLV, SLW, SSRI, UGP
- Standard overbought here: GIS and GLD
- A break out in either direction is on the way for: BPOP
- 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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