- Yi: +4.5
- Trying to bottom out in this area: $GASO, $HGX, $WTIC, ENER, GDX, RJI, UGA
- Moderately oversold now: $BDI-weekly, $XAU, GG, V, WFR, X
- Attempting to hold the 65 DMA here: $CRB, ABX, CBK, NEM, PGM, PTR, SSRI
- Attempting to hold the 28 day: $DJX, $GOLD, $PLAT, $SPX, AA, AVAV, CAKE, KGC, NTES
- Attempting to break above the 28 day: $USD, ACF, SLW
- Attempting to break above the 65: PEG and QCOM
- Moderately overbought: MMC
- Toppy here: GIS, MSCC, RAIL
- Probable top here for: PG
- 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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