- Yi: +3.5
- Probable bottom here for: $VIX and QID
- Possible bottom here for: GTU
- Moderately oversold: MKC and NTES
- Attempting to hold the 28 day moving average: MEOH, UYG, WFC
- Attempting to break above the 28 day moving average: LPL
- Attempting to break above the 65 day moving average: ENER and IRF
- Moderately overbought now: $SOX, $XOI, ARM, BNI, C, CHK, CLF, CSIQ, ELN, ERIC, FRO, GOOG, LDK, MBI, NWL, PBY, RGLD, TLB
- Standard overbought: TSL
- Extremely overbought: KO
- Toppy here: ACH, BA, EWI, EWJ, FCX, FXI, GE, GF, KO, LUFK, PEP, PG, PHI, SLW, SSRI, TAN, TIE, TOT, UGA, WATG, WDC, X
- A break out in either direction is on the way for: COGO and V
- 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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