- Yi: +3.8
- CIEN is attempting to bottom out.
- HD is at the average oversold level.
- BBRY and UNG are moderately oversold.
- $FTSE, NOV and WEAT are attempting to hold the 28 DMA here.
- DF is up against the 65 day.
- NIB is up against the 28 day.
- DBA is moderately overbought.
- 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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