- YI: -0.5
- Trying to bottom out: GFI
- Standard oversold: PLL
- Moderately oversold: ABX
- Trying to hold some rising trend line support: ACAS, GLD, and XPLT
- Trying to hold falling trend line support: FXC
- Attempting to hold the 28 DMA here: PLT
- Trying to break above some falling trend line resistance: AIG, C, DVY, FCX, GF, MMC, NSM, the S&P-500, STX, and WB
- Attempting to break above the 28 DMA here: ACH, NOK, and WB
- 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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