- Yi: +4.5
- If we do get another rally phase in here, this should be the last one before a correction or resumption of the bear market begins.
- Trying to bottom out here: BPOP, TIE, WFR
- Moderately oversold now: ABX, BPZ, CNK, GA, GDX, GG, NEM, SU
- Attempting to hold the 65 day: AEM, CLF, ERIC, KO, LDK, MBI, PTEN, PTR, SU
- Attempting to hold the 28 day: $SOX, CPSL, HCBK, PTR, RJA
- Moderately overbought now: $DJW-weekly
- Standard overbought: SDTH
- 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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