- Yi: +0.9
- A possible bottom here for: $XAU, ASA, AU
- Now attempting to bottom out: ANF, DBC, FXF
- Attempting to hold the 65 DMA here: $VIX
- Attempting to hold the 28 day: $VIX
- Up against the 28 day: CWI and EFV
- Up against the 65 day: $NDX, $SPX, $XOI, F, FEU, FNDF
- Moderately overbought now: $HGX, AIG, AMCC, ARMH, BLL, BMY, C, COST, DIS, GLW, GM, GOOG
- 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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