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.
Monday, October 22, 2012
Market trying to hold the 65 DMA here.
The market is now trying to hold the 65 day moving average at this point in time.
Thursday, October 18, 2012
Another topping area may have been reached here.
The market appears to be trying to make another top in this area, so I'm staying cautious.