- Yi: +3.75
- Average oversold: RBS and WFC
- Moderately oversold now: GG, KGC, PGM, UYG, VFC, XLF
- Attempting to hold the 65 DMA here: FXI, GDX, GF, SLV, TIE, UGA
- Trying to hold rising trendline support: ACH, BPOP, CSIQ, CSL, EWA, GOOG, LOW, MKC, PHI, PTR, RJI, UGP
- Attempting to hold the 28 DMA here: GE, PG, QLD, QQQQ, SLW, SSO, VOD
- Trying to hold falling trendline support: JOSB, SHI, USB
- Trying to break above falling trendline resistance: $VIX
- Moderately overbought now: TLB
- Attempting to break above the 65 day: FSLR and TLB
- Toppy here: JASO, PEP, ROK, SYY
- A probable top here for: CNK
- A break out in either direction is on the way for: $HGX and ACF
- 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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