- Yi: +7.6, +7.8
- Moderately oversold: $VIX, CAKE, DPS
- Attempting to hold the 65 DMA here: $GASO, CAKE, CAT
- Up against the 28 day: EWI
- Up against the 65 day: $WTIC, AVP, BBT, CNK, EWA, FXI, GE, GIS, HPQ
- Moderately overbought now: $DJW, $DJX, $NYA50R, $PLAT, $SPX, ABX, AXP, BMY, CSCO, FAZ, IYY
- Extremely overbought: GOOG
- A possible top here for: CHK and EWJ
- 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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