- YI: -1.5
- Probable bottom in this area for: GF and SHI
- Possible bottom here for: EWI, GA, STX, T
- Trying to bottom out: ELN, IYY, PHI, PLL, V, WFR, X
- Extremely oversold now: AA, IFN, MOT, ROK, UGP
- Standard oversold: ERIC, MEOH, PEG, XLU
- Moderately oversold: OGE and PAYX
- Attempting to hold the 28 DMA here: $USD and VFC
- Attempting to hold the 65 DMA: GPC, MKC, OCR
- Attempting to break above the 28 DMA here: $XAU, ABX, ASA, GDX, KGC, NEM, SLV, WGW, WHR
- Attempting to break above the 65 DMA: AEM, GLD, EGO
- Moderately overbought now: CREE, GLD, GTU
- Standard overbought: RGLD
- Toppy here: GIS
- 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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