- Yi: +9.13
- Now trying to bottom out: LEN and MMI
- Moderately oversold: GLW
- Up against some falling trend line resistance: AAPL and ASA
- Moderately overbought now: $DJW, AMAT, CAKE, FSLR, GDX, GG, IDA, IFN
- Standard overbought: $SPX, BA, CSL, GF, IWM
- Toppy here: $DJX, $OEX, AA, EEFT, FCX, IP
- A break out in either direction is on the way for: $HGX and MMC
- 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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