- Yi: +6.7
- Extremely oversold: XOI
- Moderately oversold: DJW, AA, CAT, CVY, DSLV
- Attempting to hold the 28 DMA here: HGX, NDX, AAPL, AKAM, CAKE, DB, DDM
- Up against the 65 DMA here: SILVER
- Moderately overbought: GOLD, VIX, ARMH
- A break out in either direction is on the way for: XAU
- 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.