- Yi: +5
- Attempting to hold the 65 DMA here: COGO
- Attempting to break above the 28 DMA: $GOLD, AEM, TLB
- Moderately overbought now: AKNS, ASA, GFI, GLW, LEN, SDTH, SEED, SLV
- Standard overbought: BA, BAC, BBT, LDK, USB, WFR
- Extremely overbought: CLF, MEOH, ROK
- Toppy here: AXP, CSIQ, DDM, EXP, IYY, JASO, ROK, UGA, UGP, WDC
- Possible top here for: BPZ, CAKE, CAT, IWM, QQQQ
- Probable top here for: AAPL, FCX, GOOG, TPX
- 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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