- Yi: +3.7
- Trying to bottom out: $VIX
- Extremely oversold: AVP
- Moderately oversold: DPS, DUST, EWJ
- Trying to hold some rising trendline support: A, COST, EEFT, EWJ
- Attempting to hold the 65 DMA here: A, BA, C
- Up against the 65 day: $GOLD
- Extremly overbought: BGS
- Toppy: $NYA50R and CSCO
- 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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