- Yi: -3.5
- Standard oversold: $DJW, $DJX, $OEX, $SPX, $XEU, AMAT, AXP, B
- Moderately oversold now: $XOI, AVP, BA
- Attempting to hold the 28 day moving average here: $IIX, ABX, AEM
- Attempting to hold the 65 DMA: $SOX, AAPL, ACH
- Attempting to break above the 65 day moving average here: $VIX and the $VXO
- Standard overbought now: $GOLD, $PLAT, $USD
- Toppy here: ASA
- More later if I have the time. 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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