- Yi: +8.9
- BMY and $USD are attempting to bottom out in this area.
- APD and CL are moderately oversold.
- AEM, AU, DBP and $DJGSP are attempting to hold the 65 DMA.
- BA, CNK and $NDX are toppy here.
- CLF is setting up to break out either up or down.
- 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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