- Yi: -5.8
- Tying to bottom out now: $HGX, $SPX, C, CI, CNK, DUST, HD, SBUX
- Extremely oversold: BAC, CHK, DB, EWI
- Standard oversold: $NDX, $UST30Y, AIG, CI, DIS, EFX, IYG, IWM, NOV, RTH, WFC
- Moderately oversold: $DJW, $XOI, CORN, CVS, CVY, FB, IJH, IJR, MDY, SMH, XLK
- Attempting to hold the 65 DMA here: COH
- Moderately overbought: $VIX
- Extremely overbought: $GOLD
- Toppy here: ABX, ASA, AU, CEF, DBP
- A possible top here for: $DJGSP, $XAU, AEM
- A break out in either direction is on the way for: AAPL
- 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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