- Yi: +4.25
- Moderately oversold now: ABX, NOK, PTEN, SU, WFC
- Attempting to hold the 65 DMA here: AVAV, FCX, PTR
- Trying to hold rising trendline support: $SPX, FRO, IBM, KBE, NWL, OCR
- Attempting to hold the 28 DMA here: $GOLD, AEM, GLD
- Trying to hold falling trendline support: LEN
- Attempting to break above the 65 day: GF
- Trying to break above falling trendline resistance: ACAS
- Moderately overbought now: CAKE and TAN
- Average overbought: DVY
- Toppy here: $SOX, GIS, GLW, T, YGE
- Going parabolic: CNK
- A break out in either direction is on the way for: HCBK
- 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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