- YI: +0.5
- Trying to bottom out here: PG, SKS, and SUN
- Standard oversold now: EWU, MCD, MEOH, and PLL
- Moderately oversold: SOLF, UN, and the XOI index.
- Trying to hold some rising trend line support: QLGC
- Trying to hold falling trend line support: ACH, ADP, PTR, and SGP
- Attempting to hold the 28 DMA here: CREE and PEP
- Trying to break above some falling trend line resistance: ARM, BHP, FXC, MTD, NOK, REDF, SEE, and WOR
- Standard overbought now: GFI, IFN, and RGLD
- Possible top here for: GLD
- 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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