- Yi: +4.5
- Trying to bottom out in this area: CAT and ROK
- Moderately oversold now: SKS
- Attempting to hold the 65 DMA here: LEN and LOW
- Attempting to break above the 28 day: BAC
- Attempting to break above the 65 day: ACAS
- Moderately overbought now: $XOI, CHK, CLF, CNK, DELL, ERIC, EWA, JASO, NOK, PTEN, TAN, TKR, XLF
- Standard overbought: CEF, FCX, NEM, NTES, RGLD, RJI, WATG, WFR, XOP
- Extremely overbought: $WTIC, AEM, KGC, SSRI, TOT, UGP
- Possible top here for: AAPL, PTR, TSL
- Has gone parabolic: $XAU, GDX, GG, IFN, SLV, X
- A break out in either direction is on the way for: CTB, EWI, SWK, WDC, WHR
- 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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