Bill,
The "Yogi Index" was originally invented by Jim McMannis (who is a member of SI) way back in 1991 on the old Prodigy Classic boards, and as originally constructed, was a daily sentiment indicator of my "troops" (the loyal bears), as opposed to the "High Hopes crowd" (the bulls and Jim's troops), on the Investment Theory bulletin board, which was one of the if not THE hottest board under Money Talk in the good old days. I worked on it for some time, and it was pretty good at predicting the trend of the overall market as a contrary indicator.
The current version of the "Yogi Index" is completely different, being a combination of proprietary indicators and end of the day judgement on exactly where it should be at the close. If one had bought the market at all of the -4 and -5's, and taken profits at +4 and +5's, one would have done quite well in trading the market. Interestingly, the 0 (zero) level often is resistance or support. I better put this up, before I get cut off. Yogi |
