- Yi: +3.65
- A probable bottom signal here for: FUQI
- A possible bottom for: BPZ
- Trying to bottom out here: AAPL, B, EEFT, EWA
- Moderately oversold: $NYA50R-weekly and OCR
- Attempting to hold the 65 DMA here: AVAV, FRO, IDA, NM
- Attempting to break above the 28 day: SKS and XOP
- Now trying to break above some falling trendline resistance: $GOLD, $IIX, $SOX, ACH, AMAT, CLF, FCX, NTES, NWL, SCHB, SCHG, SHI, WSO
- Attempting to break above the 65 day: $WTIC, MMC, RAIL, RBS, SUN, WDC, X, XLF
- Moderately overbought now: CAKE and LEN
- Toppy here: TLB
- A break out in either direction is on the way for: BGS
- 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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