- Yi: -3.8
- Now attempting to bottom out: DUST and JDST
- Standard oversold: NOK
- Moderately oversold: $VIX
- Now up against the 28 DMA: CVY, GDDY, HD, LOW, SHAK, V
- Up against the 65 day: GM, NUS, RGLD, XLB, YYY
- Moderately overbought: $DJGSP, ASA, CAKE, CEF, CMG, EROS, GDX, JCP, PEG, PEP, PG, PMPIX, PYPL, RAIL, SBUX, SYY, T, VFC, VOX
- Standard overbought: MCD and MKC
- Toppy here: COH, FB, JNJ, NEM, T
- A break out in either direction is on the way for: CSIG
- Anything posted here may be at least a bit 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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