- Yi: +8.4
- NIB is attempting to bottom out.
- BBRY is at the average oversold level.
- IJH, IJR, IWM, MDY, PRU, SMH and WEN are attempting to hold the 28 DMA.
- ACQ and DBA are up against falling trend line resistance.
- AGQ is up against the 28 DMA.
- $FTSE is at the average overbought level.
- FLO is toppy here.
- PAG 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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