- Yi: +3
- Now trying to bottom out in this area: KFT, NST, QID
- Extremely oversold: TLB
- Moderately oversold: MCD
- Attempting to hold the 28 DMA here: $USD, BPOP, IBM, LDK, NAT, PTR
- Attempting to hold the 65 DMA here: PG and RAIL
- Attempting to break above the 28 DMA: $WTIC, ABX, ASA, GM, GTU, KGC
- Attempting to break above the 65 DMA: $XAU, $XOI, GDX, GG, NEM
- Moderately overbought now: ACAS, DELL, EGO, ERIC, EWJ, GE, GF, GFI, IFN, IRF, IYY, SSRI
- Standard overbought: AXB, B, BBT, CAT, EWI, GLW, LEN, MFE, MOT, MSCC, QCOM, RBS
- Extremely overbought: $HGX, AXP, CTB, F
- Toppy here: AVP, SWK, WHR
- Possible top in this area for: ACF and QQQQ
- 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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