- Yi: -2.5
- Probable bottom here for: $CRB and $WTIC
- Possible bottom forming here: LMT, NEM, STX
- Trying to bottom out in this area: $XAU, ELN, PBY, SKS
- Extremely oversold: EGO
- Standard oversold: ABX, AEM, GDX, KGC, SLV
- Trying to hold the 28 DMA here: $GOLD and GLD
- Trying to break above the 65 DMA here: BPOP and WSO
- Moderately overbought: HMY
- 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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