- Yi: +3.13
- Moderately oversold: $VIX
- Trying to hold some rising trendline support here: CBK, MTH, NTES
- Trying to hold the 65 DMA here: RBS
- Now up against some falling trendline resistance: $HGX, $NYA50R-weekly, AAPL, ACAS, SEED
- Moderately overbought: $DJW, $DJX, $SPX, $XOI, EWJ, RJI, SSO
- Up against the 28 day moving average: B and UGA
- Now up against the 65 day moving average: AA, AMSC, TIE, UYG
- Standard overbought: $IIX, CAKE, LDK, NEM, SLV
- A bit toppy here: $DJW, CAKE, GDX, RJA
- A possible top in place for: $XAU
- A break out in either direction is on the way for: PX
- 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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