- Yi: +3.7
- A possible bottom here for: QID
- Attempting to hold the 65 DMA here: NFLX
- Moderately overbought: GDX, GPC, LEN
- Toppy here: MTH, PEGI, SCHB, SLW
- A possible top here for: HPQ, IP, JCP, OIL, PHI, QCLN
- 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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