- Yi: +2.8
- Trying to bottom out: COPX
- Moderately oversold: EROS
- Up against the 28 day moving average: DM
- Moderately overbought now: AMCC, AVAV, BMY, DF, DYN
- Average overbought: BGS
- A bit toppy here: $CRB, GDDY, IJH, IJR, IWM, MDY
- A break out in either direction is in the cards for: $BDI, FB, HD, IYE, $XOI
- And of course as is always the case, 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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