- Yi +1.5
- Trying to bottom out in this area: MBI, NEM, SSRI, SU
- Standard oversold at this point: GMGMQ and HMY
- Moderately oversold: $PLAT, $XAU, ABX, CEF, CPSL, EGO, FCX, GFI, GG, JOSB, LOW, PGM, RAIL, RGLD, SLW, SPWRA, TIE, URE, VFC
- Attempting to hold the 65 day: AA, CAKE, CSIQ, MSCC, UGP, WHR
- Attempting to hold the 28 day: BAC
- Moderately overbought now: LPL
- Toppy here: PEP
- Has gone parabolic, which is normally a bearish sign: GIS
- 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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