- Yi: -2
- Possible bottom here for: AKNS, ARM, CPSL, CREE, LEN
- Trying to bottom out in this area: BPOP, BPZ, CNK, EEFT, NAT, UGA, SDTH
- Trying to hold the 28 DMA here: BMY and QID
- Trying to break above the 28 DMA here: CAT, EWJ, FXI, PGM, PLL, SHI, SPWRA, SU, TPX, VFC, WATG, WOR, WSO, WY
- Trying to break above the 65 DMA here: $XAU, ABX, ASA, CEF, GFI, GG, HMY, PLG
- Moderately overbought now: $GOLD, $XAU, AEM, ASA, GDX, GFI, GG, GLD, GTU, HMY, KGC, NEM, NST, SUN, TOT, WGW
- Standard overbought now: RGLD
- 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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