- Yi: +1.3, +0.65
- Trying to bottom out here: ACAS and AU
- Oversold: $DJW-weekly chart.
- Now up against the 28 DMA: $DJX and $OEX
- Up against some falling trendline resistance: $GASO
- Moderately overbought here: DUST
- Anything posted here may be off base. There may be some more signals before the end of regular trading hours.
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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