- YI: -1.5
- Possible bottom here for: ACH
- Trying to bottom out: The XAU index, AEM, ASA, B, BZP, EEFT, EWA, GDX, GFI, GG, GLD, PMPIX, SLV, SU, and TOT
- Extremely oversold: ABX
- Oversold: CRB index and WTIC
- Moderately oversold: CLF and MEOH
- Attempting to hold the 28 DMA here: SHI
- Trying to break above the 28 DMA here: AAPL, ALEX, BA, CAKE, EWI, and RGLD
- Moderately overbought now: DJX, OEX, SPX, ADP, AIG, BMY, C, CBK, CSL, DVY, ERIE, GPC, IFN, IWM, KBE, KBW, KO, LOW, MOT, NTES, NWL, PBCT, PG, PHI, ROK, SEE, SGP, USB, UYG, and WB
- Overbought: ARM, DELL, HIT, MCD, MMC, and OCR
- Extremely overbought: AVP
- Toppy: CNK and KFT
- 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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