- Yi: +3.9
- Attempting to hold the 65 DMA here: GDDY
- Attempting to hold the 28 day: $GASO
- Moderately overbought: ASA, ATI, CAT, CHK, COST, $DJW, EFV, EWA, FEU, $FXT, GF
- Average overbought: IJH, IP, FXI, NOV
- A bit toppy here: CAR, HSNI, IYE, MOS, MSI, SMH
- A possible top here for: ARMH, CORN, DYN
- A break out in either direction is on the way for: MET
- And as is always the case of course, 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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