- YI: -3.5
- Trying to bottom out: NWL
- Extremely oversold: GOOG
- Moderately oversold: NEM
- Trying to hold some rising trend line support: FXY, GGB, IWM, RIO, and XLU
- Attempting to hold the 28 DMA here: ABX, AEM, GLD, and NYB
- Trying to break above some falling trend line resistance: ALD and STX
- Attempting to break above the 28 DMA: WOR
- Moderately overbought now: AVP and ERF
- More later. Anything here could 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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