- Yi: +6.15
- Now attempting to bottom out: FSLR, NEM, NTES
- Moderately oversold now: C, CSIQ, KGC, LDK
- Trying to hold some rising trendline support: $GASO, BAC, CLF, CNK, FUQI, HCBK, NOK, OGE
- Attempting to hold the 65 DMA here: $WTIC, BAC, PG
- Up against rising trendline resistance: IBM
- Trying to break above falling trendline resistance: PGM
- A break out in either direction is on the way for: $GOLD
- More later. 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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