- Yi: +5.2
- Moderately oversold: IYE and $USD
- Attempting to hold the 28 DMA here: SBUX
- Up against rising trend line resistance: $XAU
- Moderately overbought: ASA, $CVGRX, $GOLD
- Toppy here: AAPL
- A possible top may be in place for: $DJW, CWI, GF, HD, $NDX, XLK
- 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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