- Yi: +9.85
- Now trying to bottom out: $VIX
- Attempting to hold the 65 DMA here: $GOLD-weekly and CAT
- Now up against some rising trendline resistance: $DJW, $GASO, A, BA, BMY
- Up against the 28 day: AUG
- Up against the 65 day: $GOLD
- Up against some falling trendline resistance: $PLAT and ASA
- Moderately overbought now: $DJX, AMAT, BBT
- Standard overbought: $IIX and the $OEX
- Extremely overbought now: $SPX and AXP
- Toppy here: $IIX and $SPX
- A break out in either direction is on the way for: $WTIC
- Anything posted here may be off base, and there may be some more signals later.
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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