- Yi: +10, +9.2, +9.4, +9, +9.3, +9.5
- Moderately oversold: $GASO
- Attempting to hold the 28 DMA here: $BDI
- Up against the 28 DMA: $HGX, AA, AEM
- Up against some falling trendline resistance: $GOLD
- Anything posted here may be off base.
For those of you who have inquired, the "Yi" is my own proprietary overbought/oversold indicator, where a +5 reading generally indicates we are overbought in the overall market, and -4 or a -5 reading is telling us the market is 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 +10 is extremely overbought, and of course a -10 indicates extremely oversold.
The $OEX index is now up against the 65 day moving average here, so the market is moderately overbought and may be due for another correction fairly soon.