- Yi: +2
- Attempting to bottom out in this area: $SOX, COGO, USD
- Trying to break above the 28 day moving average: $XAU, OCR, SHI
- Trying to break above the 65 day: CSIQ and ENER
- Moderately overbought now: $PLAT, ABX, ASA, EGO, GDX, NEM, RGLD, RJA, SLV, SLW, TSL
- Standard overbought: $GOLD, GLD, PGM, SWK
- Toppy here: MOT and V
- A break out in either direction is on the way for: AXP and IBM
- 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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