- Yi: +4.5
- Now trying to bottom out: ACAS, BAC, MOT, RGLD
- Moderately oversold here: LEN, NAT, SPWRA
- Trying to hold some rising trendline support: $SPX, $XAU, ARM, CAKE, CTB, GDX, GLW, IYY, JASO, LOW, MSCC, NEM, NM, ROK, SSRI, TAN
- Attempting to hold the 65 DMA here: $GOLD, CAT, GLD, SLW
- Trying to hold falling trendline support: SLV
- Up against rising trendline resistance: CREE, TSM, USD
- Trying to break above some falling trendline resistance: $NYA50R-weekly, $VIX, CBK, EWA, KGC
- Attempting to break above the 65 DMA here: FSLR, TLB, WFR
- Moderately overbought now: $GASO, SEED, UGA
- Overbought: IRF
- Toppy here: $SOX, $WTIC, BPZ, CNK, IBM, QCOM
- A possible top here for: CNK
- A break out in either direction is on the way for: ACH
- 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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