- Yi: +3.55
- Moderately oversold: CAKE
- Up against rising trendline resistance: $GOLD and $WTIC
- Up against the 28 DMA here: $PLAT and CHK
- Up against the 65 day: $OEX, $XAU, $XOI, ACAS, EWJ
- Moderately overbought now: $CRB, $DJW, $GASO, $IIX, ARM, AVP, AXP, BA, BPZ, CLF, DDM, DVY, EWA, F, GLW, GOOG
- Overbought: CTB
- 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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