- Yi: -0.1
- Now trying to bottom out: NOK
- Moderately oversold: $GOLD, CSIQ, DB, GF, SPWR, TSL
- Attempting to hold the 65 DMA here: $COPPER, ATI, AVAV, CVY, CWI, DBC, EWA, FXI, GM, LEN, PEGI, SU, TKR, USL, USO, XLE
- Attempting to hold the 28 DMA here: $USTY30R, $XAU, B, C, CAKE, CHK, COH, COPX, DIS, F, FCX, FEU, M, MET, MOS, MTH, NFLX, OIL, PTEN, PYPL, QCLN, STX, VFC
- Moderately overbought: WSO
- A break out in either direction is on the way for: GDDY, GF, MAT, Z
- 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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