- Yi: +8.73
- Trying to bottom out in this area: QCOM
- Moderately oversold: ELN and GOOG
- Now trying to hold some rising trendline support: AVAV
- Moderately overbought: EGO, GDX, GLW, MTH, PLL, SLV
- Overbought: EXP, F, NM, SHLD, SWK, SYY
- Extremely overbought: CAT, IWM, JOSB, TLB
- Toppy here: $SOX, $SPX, B, CSCO, CSL, EXP, IWM, JOSB, MKC
- A possible top here for: ARM, RAIL, SLW
- A probable top here for: $DJX, AAPL, OGE, PBY, RBS, ROK, SCHA, SCHG, SKS, TKR
- Has gone parabolic: CAT and WHR
- 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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