- Yi: +2
- Attempting to break above the 65 DMA here: ABX, AXP, BAC, BMY, BPZ, EWI, LDK, MDC, NOK, UYG
- Moderately overbought in this area: ELN, IFN, LOW, RGLD, SYY, XOP
- Standard overbought now: CNK, NEM, TSL
- Toppy here: AEM, ASA, CHK, EGO, NTES, PGM
- A break out in either direction is on the way for: NM and URE
- 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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