- Yi: -2
- Trying to bottom out in this area: $VIX and WATG
- Moderately oversold now: QID
- Trying to hold the 28 DMA here: $XAU, ASA, EGO, NEM
- Trying to break above the 28 DMA: $DJX, $OEX, BNI, CPSL, MBI, MFE, NWL, PG, SWK, TOT, URE, WOR, WY, X
- Trying to break above the 65 DMA: $HGX, CHK, CTB, ENER, PAYX, QQQQ, STX, UGA, WSO
- Moderately overbought now: $IIX, FCX, GLW, LPL, WDC
- Standard overbought: SUN
- Toppy here: IBM and OCR
- 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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