- Yi: -4.5
- Trying to bottom out in this area: ABX and AVP
- Standard oversold now: FSLR and SYY
- Moderately oversold now: $VIX, $XAU, CNK, KGC, SHI, UGA
- Trying to hold the 28 DMA here: $VXO, GLD, SSRI
- Trying to hold the 65 DMA: $XAU, ASA, CNK
- Trying to break above the 28 DMA: $SOX, CAKE, CHK, EXP, GLW
- Trying to break above the 65 DMA: $SOX, AEM, CAKE, CHK, EXP, SU, WFR
- Moderately overbought now: $USD and FCX
- A break out in either direction is on the way for: STX
- 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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