- Yi: +7.2
- Trying to bottom out: BAC
- Now moderately oversold: $PLAT, CHK, CSIQ
- Trying to hold some rising trendline support: $BDI-weekly, the $DJW-weekly, ENER
- Attempting to hold the 65 DMA here: $DJX and CBZ
- Trying to hold falling trendline resistance: CSIQ
- Up against rising trendline resistance: CAKE
- Moderately overbought now: $GASO, $VIX, $WTIC, ABX, AEM, ASA
- Overbought: AGQ
- Extremely overbought: DM
- 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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