- Yi: -0.2
- Trying to bottom out here: DB and TSL
- Normal oversold: COST
- Moderately oversold: EBAY, RTH, SBUX, WFC
- Attempting to hold the 65 DMA here: FB, HD, IJR, IWM, MKC
- Attempting to hold the 28 DMA: DF and $XAU
- Now up against the 65 DMA: XON
- Now up against the 28 DMA: ARMH
- Moderately overbought: CORN and UGA
- Normal overbought: USL and USO
- Toppy here: DBC, NEM, NTES, OIL
- A possible top here for: PFF
- A break out in either direction is in the cards for: CVY, EGPT, EWI, FCX, FNDF, HPQ, NUS, TKR
- Anything posted here may be off base depending on market conditions.
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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