- Yi: +1.5
- Trying to bottom out here: ARMH
- Attempting to hold the 28 DMA here: $CRB
- Up against the 28 DMA: COST, CSIQ, DB
- Moderately overbought now: CNK, DIS, EWI, IP, RTH, $SPX
- Average overbought: CSL and IJR
- Toppy now: B, BMY, CLF, EFX, GOOG, HD, IYJ, IWM, LOW, MDY
- 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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