- Yi: +9.54
- Trying to bottom out in this area: $VIX
- Now moderately oversold: NTES
- Trying to hold some rising trendline support: AGQ, DGP, DPS, GG, HOGS, LPL, SHLD, SLV, SLW
- Attempting to hold the 65 DMA now: $PLAT, HOGS, PGM
- Attempting to hold the 28 day: ASA, GLD, NFLX, SUN
- Up against falling trendline resistance: DZZ
- Up against the 65 DMA here: KFT
- Moderately overbought: LEN, MTH, PX, QLD, QQQQ, RGLD, RJA, RJI, SEE, SEED, SLE, SSO, STX, SU, SUN
- Overbought: AVAV, IYY, MKC, MSFT, PAYX, PBY, PTEN, RAIL, ROK, SCHA, SWK
- Toppy here: $DJX, $IIX, A, BGS, CAKE, CHK, MSCC, PAYX
- A possible top in this area for: $HGX, GPC, LOW, LUFK
- A break out in either direction is on the way for: HPQ, JCP, SKS
- 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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