- Yi: +29.0
- Attempting to bottom at this level: DRI, GT, O
- Trying to hold rising trend line support: HMC and RY
- Attempting to hold the 28 DMA: CPRI, DFS, NTES
- Up against rising trend line resistance: BBGI and MTSI
- Moderately pverbought: AU, RGLD, SIL, $XAU
- At the average overbought level: CSIQ and MAT
- Getting a bit toppy in this area: $COTTON
- A break out in either direction is setting up for: CVS, F, OMC, TSM
- Anything posted on these pages 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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