- Yi: +3
- Now trying to bottom out in this area: TLB
- Attempting to hold the 28 day moving average here: ACH, ARM, BNI, BPZ, CHK, KBE, LDK, LPL, NOK, TAN
- Attempting to hold the 65 day moving average here: $PLAT, C, JASO, PGM, TKR, UGA
- Now trying to break above the 65 day moving average: NST, PEP, SSRI
- Moderately overbought now: BA and LEN
- Toppy here: COGO and QQQQ
- Going parabolic: MTH
- A break out in either direction is on the way for: ELN, MKC, NM, SEED
- 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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