- Yi: +4.2
- CLF, CSL and DIS are trying to bottom out.
- CIEN, $CRB and $WTIC are moderately oversold.
- $BDI is trying to hold some rising trend line resistance.
- STMP is attempting to hold the 65 day moving average.
- CPER is up against the 65 day moving average.
- BGS is up against the 28 day moving average.
- $COPPER, $NDX, SMH and XLK are moderately overbought.
- AAPL is overbought.
- Anything posted here may be off base, depending on market conditions.
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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