At 10 AM, the XAU hourly was trying to hold on to horizontal trend line support.
Wednesday, August 24, 2005
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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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2005
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August
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- XAU buy signal.
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- Chart of the Day: FBR
- Signals $ Opinions
- Chart of the Day: NTAP
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- Two more TA opinions for today:
- Chart of the Day: NLY
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August
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Current Moon Phase
About the ancient spirit:
- Yogi Zuna
- Older than the great pyramid and "catface" on Mars... been in the market since 1980.
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