- Yi: +4.65
- Now trying to bottom out: DELL and LEN
- Average oversold here: $VIX
- Moderately oversold: AA, COGO, ELN
- Attempting to hold the 65 DMA: HCBK
- Attempting to break above the 28 day: BBT
- Moderately overbought here: AVP, BGS, LOW
- Average overbought: GIS
- Extremely overbought: BMY
- Toppy here: MKC
- A break out in either direction is on the way for: CSCO, GG, IWM, JASO, LUFK
- More later. 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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