- Yi: +4
- Possible bottom here for: RJA
- Trying to bottom out in this area: NAT
- Attempting to hold the 28 day: MMC
- Attempting to break above the 28 day: BPZ, GLW, IBM, LOW, LUFK, QCOM, WFC
- Attempting to break above the 65 day: CPSL, MFE, YGE
- Moderately overbought now: $GOLD-weekly, $SOX, AVAV, B, BNI, C, CAKE, CAT, CBK, CREE, FCX, FXI, KO, LEN, MOT, NOK, PEP, PLL, PTR, QQQQ, RBS, RJZ, SDTH, SYY, TOT, USD, VFC, WOR
- Standard overbought: BPOP, HMY, SSRI, TLB, UGP
- Toppy here: AEM, ASA, EGO, MEOH, NEM, RGLD, SLV
- Possible top here for: $GOLD, $XAU, GG, JOSB, SLW
- 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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