- Yi: 1.5
- Now trying to bottom out in this area: ENER, KGC, RGLD, SPWRA, TOT
- Moderately oversold: ACAS, CEF, CLF, SPWRA
- Attempting to hold the 28 day moving average: AMAT, ELN, MSCC, TLB, UGA, URE
- Attempting to hold the 65 DMA here: $DJX, $OEX, $SPX, AA, ASA, AXB, BNI, DDM, KBE, NAT, RBS, WHR
- Attempting to break above the 65 DMA: $USD and BPOP
- Moderately overbought now: CTB and GA
- A break out is on the way for: BBT and C
- 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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