- Yi: +4.5
- A possible bottom here for: RAIL
- Trying to bottom out in this area: WFR
- Attempting to hold the 65 DMA here: COGO, GF, WY
- Attempting to hold the 28 day: $HGX
- Attempting to break above the 65 day: BGS
- Moderately overbought now: LDK
- Average overbought at this level: KO and TKR
- A possible top here for: PGM
- A break out in either direction is on the way for: WFC and XLF
- 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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