- Yi: +4.41
- Now trying to hold some rising trendline support: CREE and KBE
- Attempting to hold the 65 DMA here: NTES
- Trying to break above some falling trendline resistance: $BDI, $HGX, LDK, LPL, MOT, PBW, PEG
- Attempting to break above the 65 DMA here: $DJX, $OEX, $XOI, ASA, DELL, EGO, FXI, MSCC, PGM, RGLD, SEED
- Moderately overbought now: $GOLD, $PLAT, ABX, AEM, ASA, B, CAT, CBK, COGO, ELN, EWA, GG, GLD, GPC, IFN, LUFK, MKC, NOK, OGE, UGA
- Overbought: CAKE, OCR, PBY
- Toppy here: $IIX, CAKE, IDA, IWM, IYY, MKC, MMC, NEM, ROK, SCHA, SCHG
- A possible top is here for: CNK
- A break out in either direction is on the way for: CPSL, GMR, LEN
- 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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