- Yi: -0.5
- To buy: $PLAT
- Probable bottom here for: EGO
- Possible bottom here for: $GOLD, CEF, GLD, JASO, PLG, SLV, WGW
- Trying to bottom out in this area: ARM, AXB, BPOP, C, HMY, PPC
- Moderately oversold now: GTU
- Trying to break above the 28 DMA here: GA, GOOG, NOK, PBCT
- 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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