- Yi: +3.15
- Now moderately oversold: $VIX and RAIL
- Attempting to hold the 65 DMA here: SUN
- Attempting to hold the 28 day: $GASO and UGA
- Attempting to break above the 28 day: $IIX, $OEX, $SPX, DELL, QLD, QQQQ, SKS, SSO, STX, T
- Attempting to break above the 65 day: AA, NWL, SHI, TIE, XLU
- Now moderately overbought: $DJX, CREE, GOOG, NM, PAYX, PTR, QCOM, ROK, SHI, TOT, WDC
- Average overbought: ABX, AXP, NEM, TSL
- Extremely overbought: RX
- Toppy here: EGO and UGP
- A break out in either direction is on the way for: URE
- 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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