- Yi: +4.5
- A possible bottom here for: $USD, $VIX, QID
- Now extremely oversold: MBI
- Moderately oversold: SDTH
- Attempting to hold the 65 DMA here: VOD
- Attempting to break above the 28 day: EXP, JOSB, MMC
- Attempting to break above the 65 day: BAC
- Moderately overbought now: $HGX, $SOX, AMAT, BMY, EWA, GIS, GLW, IDA, LUFK, OGE, USD
- Average overbought: CNK and WDC
- Toppy here: $IIX, $OEX, $SPX, $XAU, DDM, F, IBM, KO, PAYX, PEP, PG, SSO
- A possible top here for: $DJX, ABX, ACF, AXP, V
- A break out in either direction is on the way for: ACAS
- 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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