- Yi: +4.9
- A possible bottom here for: ACAS and RBS
- Oversold: $VIX
- Moderately oversold: $GOLD, GE, GLD, SLV
- Trying to hold some rising trendline support: FRO and GA
- Trying to hold falling trendline support: SHI
- Attempting to hold the 65 DMA here: $GOLD, $PLAT, LMT, NAT
- Up against rising trendline resistance: A, AA, GLW, SSO
- Attempting to break above the 28 DMA here: CAT
- Attempting to break above the 65 day: $GASO, JOSB, AVP, BAC, EEFT, EWI, FXI, IFN, JOSB, NEM, NOK, NTES, PTR, RGLD, SSRI
- Moderately overbought now: $HGX, $SPX, AAPL, AXP, DVY, QCOM, ROK, T, TOT
- Overbought: ARM, COGO, CTB, IWM
- Extremely overbought: $SOX and F
- Toppy here: $USD, AA, AMAT, CNK, GIS, SKS, TIE
- Going parabolic: CSIQ
- 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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