- Yi for yesterday: +9
- Yi for today's open: +8.55
- A possible bottom here for: QID and ZSL
- Now trying to bottom out: $VIX and DZZ
- Trying to hold some rising trendline support: WATG and WSO
- Attempting to hold the 65 DMA here: DPS, ELN, LOW
- Moderately overbought: CREE and SLE
- Overbought: B, LDK, YUII
- Toppy here: $WTIC, $XAU, AAPL, ABX, AXP, BLL, CSCO, EWJ, GDX, GG, GLD, LEN, MSCC, OCR, WDC, WY, XOP
- A possible top here for: $GOLD, $IIX, A, AA, AEM, ASA, DGP, F, QLD, RJA, RJI, SHI, SLV
- A break out in either direction is on the way for: EEFT
- 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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