- Yi: +4.25
- A possible bottom here for: FSLR and GMR
- Attempting to hold the 65 DMA here: PHI
- Attempting to hold the 28 day: $CRB, RJA, RJI
- Attempting to break above the 28 day: IWM
- Attempting to break above the 65 day: CBK, LOW, NTES, OCR
- Moderately overbought now: CAT, ELN, IFN, LMT, PEP
- Average overbought: ACF, GDX, GG, RGLD
- Extremely overbought: $GOLD-weekly, ABX, PG, UGP, V
- Toppy here: TSL
- A possible top here for: GLD
- 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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