- Yi: +2.1
- Moderately oversold: $WTIC
- Trying to hold some rising trendline support: $DJW, AA, ARM, AVP, BA, CNK, EWA
- Attempting to hold the 65 DMA here: $DJA and $XOI
- Attempting to hold the 28 day: BLL
- Now trying to hold falling trendline support: $SPX, BAC, CHK
- Up against some falling trendline resistance: ACH and CSIQ
- Toppy here: ABX, ASA, EGO
- 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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