- Yi: +1
- Now trying to bottom out in this area: $USD and SKS
- Attempting to hold the 65 DMA here: ERIC
- Attempting to break above the 28 DMA: SWK
- Attempting to break above the 65 DMA: $DJX, $OEX, $SPX, AA, ARM, BPOP, DDM, EWJ, IWM, LOW, MEOH, NWL, PAYX, RBS, USB, WFC
- Moderately overbought now: GM
- Standard overbought: PGM
- Toppy here: $XAU, CEF, EEFT, GG, GTU, RGLD, SLW
- 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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