- Yi: +6.25, +6.55
- A possible bottom here for: NOK
- Trying to bottom at this level: AMAT, HOGS, IRF, PBW, SWK, YGE
- Standard oversold: ZSL
- Moderately oversold: $SPX, AKAM, LEN, SWK, UYG, XLF
- Trying to hold some rising trendline support: AXP, BA, DPS, WSO
- Attempting to hold the 65 DMA here: $DJX, CBZ, CSL, DDM, DPS, DVY, IWM, IYY, QLD, SCHH, TSLA
- Attempting to hold the 28 day: AVP and SKS
- Up against some falling trendline resistance: EEFT
- Up against the 65 DMA here: $PLAT, AGQ, AU, PGM, RJI
- Moderately overbought now: $GASO, ASA, MBI, NTES, SLV
- Toppy here: $GOLD, DGP, EGO
- A break out in either direction is on the way for: CSCO, IP, WDC
- 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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