- Yi: +3
- Trying to bottom out here: $VIX
- Moderately oversold: $VIX
- Up against the 28 DMA now: ATI and CHK
- Up against the 65 day: $XOI, AVP, B, BGS, CAKE, CAT
- Moderately overbought: $HGX, $OEX, $XOI, AKAM, AMAT, ANF, CNK
- Overbought: AAPL
- Toppy here: $IIX
- A break out in either direction is on the way for: AGQ
- 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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