- Yi: +2.7, +2.55
- Up against the 65 DMA here: $DJW and $HGX
- Moderately overbought now: $DJX, $IIX, $NYA50R, $SPX
- Anything posted here mat be off base.
Friday, October 14, 2011
Late day update for October 14, 2011.
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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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