- Yi: +3.35
- A possible bottom here for: QID
- Trying to bottom out now: FAZ
- Extremely oversold: AEM
- Moderately oversold: ABX, AUQ, CLF, CREE, FAZ, WDC
- Up against rising trendline resistance: $CRB
- Up against the 65 DMA here: AXP, BLL, CAT, KBE, NTES, PHI, PTR, SUN, XLF, XOP
- Moderately overbought now: $HGX, BGS, COST, GE, HIT, LEN, LOW, MMC, STX, SWK
- Overbought: GPC and JCP
- Toppy here: V
- A break out in either direction is on the way for: ACAS, ELN, GLW, MED, TSL, WY
- 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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