- Yi: +9.6, +9.4, +9.5, +9.4
- Now trying to bottom out: $Corn
- Moderately oversold: $IIX and $USD
- Trying to hold some rising trendline support: $SPX
- Attempting to hold the 65 DMA here: $GASO and AMAT
- Attempting to hold the 28 day: $OEX, B, COST
- Up against the 28 DMA here: $VIX and ACH
- Moderately overbought now: $PLAT, AAUKY, ATI, CAKE, DBB
- Overbought: CLF
- A possible top here for: CNK
- Anything posted here could be way 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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