- Yi: -1.4
- Trying to bottom out here: $VIX and DUST
- Moderately overbought: $COPPER, AVAV, FXI, GF, NOV
- Standard overbought: CHK, COPX, DM
- Toppy here: ANF, AU, BAC, C, DB, F, FCX, GE
- A break out in either direction is on the way for: HD
- 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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