- Yi: +2.8
- Now trying to bottom out: EXP, JASO, SHI, SSRI
- Standard oversold: LDK, LPL, RBS, WOR
- Moderately oversold now: $HGX, $XAU, AA, ABX, AEM, AMAT, BA, BBT, COGO, EWJ, GDX, GE, GG, GMR, HMY, KBE, KFT, KGC, LEN, LOW, LDK, MTH, NAT, NEM, PBW, PEG, PHI, RGLD, SKS, SU, TAN, YGE
- Attempting to hold the 65 DMA here: EGO, HMY, IDA, IRF, IWM, JOSB, MEOH, NEM, NWL, PLL, UYG, WFC, XLF, XLU
- Attempting to hold the 28 day: $DJX, $GOLD, $OEX, $SPX, $XEU, CHK, DDM, DVY, PG, TLB, WY
- Attempting to break above the 28 day: $USD, GLD, SLW, SSO, TSL
- A possible top in place here for: UGP
- A break out in either direction is on the way for: BGF
- 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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