- Yi: +3.5
- Now trying to bottom out: PEP
- Attempting to hold the 28 day moving average here: MMC
- Attempting to break above the 28 day moving average: $CRB and $GOLD
- Attempting to break above the 65 day: CEF, GLD, LUFK, SLV
- Moderately overbought now: CBK, ENER, TOT, TSL
- Standard overbought: COGO and ROK
- Extremely overbought: CAKE
- Toppy here: NWL and STX
- Probable top here for: EEFT
- Going parabolic: MFE
- 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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