- Yi: +4.7
- At the average oversold level: $VIX
- Moderately oversold: $CRB, $GASO, $WTIC
- Attempting to hold the 65 DMA here: $COPPER
- Up against falling trend line resistance: BA, C, CMG, IYG
- Up against the 65 DMA here: $DJW, JJG, NOV
- Up against the 28 day: IYG
- Up against rising trend line resistance: DRI
- Moderately overbought: ANF, B, BMY, CAT, COH, HD, IJH, IYG, NIB, SMH
- Toppy here: AGQ and $PLAT
- A possible top here for: DF
- 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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