- Yi: +8.8, +9
- Now trying to bottom out: $VIX
- Moderately oversold: BAC
- Up against rising trend line resistance: $HGX
- Up against the 28 DMA here: $OEX, AKAM, AVP
- Up against some falling trend line resistance: $DJW, BLL, CBZ
- Up against the 65 DMA here: $IIX, ACH, ARM, BBT
- Moderately overbought now: $DJX, $NYA50R, $OEX, AA, AAPL, ARM, ATI, AXP, BMY, CNK, CTB
- Standard overbought: $WTIC and AVAV
- Extremely overbought: CAT
- Toppy here: $GASO, AGQ, BMY, CLF
- 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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