- Yi: +0.95
- Oversold: STX
- Attempting to hold the 65 DMA here: RGLD
- Now trying to hold falling trendline support: RJA
- Now up against some falling trendline resistance: GOOG, PBY, PHI, PTR, SYY
- Up against the 65 DMA here: LOW, MBI, PTEN, SEED
- Moderately overbought now: AAPL, ABX, BGS, NEM
- 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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