- Yi: +3.0
- Now trying to bottom out: ACH, ASA, CMG, GDX, GG, MTH, PHI
- Moderately oversold: $COPPER and EGPT
- Attempting to hold the 65 DMA here: CSCP, MKC, PEP
- Attempting to hold the 28 day: $FXI
- Up against the 65 day: CHK and NAT
- Moderately overbought: B, CAT, CNK, GF, HPQ
- Overbought: COST, GPC, KING
- Toppy here: BLL and GPC
- 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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