- Yi: +3
- A possible bottom here for: WHR
- Moderately oversold now: BBT
- Attempting to break above the 28 DMA here: $HGX, B, IYY, NTES
- Attempting to break above the 65 day: LEN, SHI, SSRI
- Moderately overbought now: $WTIC, $XAU, ABX, FXI, GG, RJZ
- Standard overbought: UGP
- Toppy here: ABX, GLD, NEM, PGM
- 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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