- Yi: -1.7
- Possible bottom here for: $CRB
- Trying to bottom out: $HGX, $SPX, $USD, AVAV, CNK, GM, IP, MAT, MED, MKC, MOS, MTH, NAT
- Extremely oversold: $NYA50R, $SPXA50R, CHK
- Oversold: $HGX
- Moderately oversold: BGS, IDA, LEN
- Trying to hold the 65 DMA here: CEF
- Moderately overbought: DUST
- 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.
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