- Yi: +5.5
- Moderately oversold now: ABX, GDX, GG, IRF, NEM, PBY, RGLD, RJA, SDTH, SHI
- Trying to hold some rising trendline support: $OEX, $SPX, $XAU, FSLR, GMR, IYY, LOW, NAT, NTES, SEED
- Attempting to hold the 65 DMA here: PAYX and RJI
- Attempting to hold the 28 day: OGE and WDC
- Attempting to break above the 65 day: RBS
- Moderately overbought now: BGS, ELY, GF
- Toppy here: $NYA50R, $PLAT, CAKE, ELN, USB
- A break out in either direction is on the way for: JOSB
- 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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