- Yi: -3.7
- Now trying to bottom out: $VIX
- Attempting to hold the 65 DMA here: DF
- Trying to hold the 28 day: FXF
- Up against the 28 day: EBAY
- Up against the 65 day: CHK, IYJ, SBUX
- Moderately overbought: $DJW, NYA50R, $SPX, AA, CNK, COH, CSIQ, DM, DRI, EFX, F, FB, HD, HPQ, RTH, SMH
- Toppy here: $XAU, CSCO, CSL, GPC, IDA
- A break out in either direction is on the way for: DBC
- 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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