- Yi: -1
- Trying to bottom out in this general area: GIS
- Moderately oversold now: $USD, KFT, OCR
- Attempting to hold the 28 day moving average here: GE
- Attempting to hold the 65 day moving average: MBI
- Attempting to break above the 28 day moving average: ACAS, FRO, NST
- Attempting to break above the 65 day moving average: CPSL, CSIQ, DELL, PEP
- Moderately overbought now: $CRB, $GOLD, $PLAT, AEM, ASA, BPZ, CEF, EWI, GDX, GLD, GTU, HMY, IBM, KGC, LMT, NEM, NST, PGM, TPX, WGW
- Standard overbought now: $WTIC, $XAU, GG
- Toppy here: FCX and GLW
- 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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