- Yi: +4.75
- LMT is trying to bottom out in this area.
- ERIC is now moderately oversold.
- ASA and GLD are attempting to hold their 28 day moving averages.
- BBT is trying to break above it's 28 day.
- NAT and SUN are attempting to break above their 65 day.
- BPZ, CPSL, KBE, NM, UYG are all now moderately overbought.
- $HGX, SDTH, VFC are "standard overbought" now.
- $CRB, $SPX, ARM, DDM, FXI, MEOH, PTR, RBS, RJZ, TKR, VFC, X, XOP, YGE are getting "toppy" here.
- 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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