- Yi: +6.96
- Moderately oversold now: $BDI
- Attempting to hold the 65 DMA here: ELN
- Trying to break above some falling trendline resistance: $DJW and $PLAT
- Attempting to break above the 65 DMA here: $XAU and AVAV
- Moderately overbought: CSIQ, EWJ, FCX, FXI
- Toppy here: AVP, BA, BMY
- A break out in either direction is on the way for: EEFT
- 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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