- Yi: +2.1
- A possible bottom here for: ANF and GT
- Now attempting to bottom out: ATI, B, CAKE, GM, HSNI, MSI, Q, RAIL, UST30Y
- Up against the 65 DMA here: SPWR
- Up against the 28 day: CAR
- Moderately overbought: $USD
- At the average overbought level: IDA and O
- Toppy here: O
- 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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