The market is now "officially" overbought here once again, and due for some type of correction. YZ
Thursday, January 24, 2013
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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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About the ancient spirit:
- Yogi Zuna
- Older than the great pyramid and "catface" on Mars... been in the market since 1980.
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