- Yi: +3.75
- Now trying to bottom out in this general area: CSIQ, DELL, EEFT, FSLR
- Oversold: CSIQ, EEFT, FSLR
- Moderately oversold now: $XAU, $XOI, AA, ABX, AEM, AMAT, ASA, AXP, DELL, EGO, ELN, FCX, GDX, GG, GLW, GOOG, KGC
- Trying to hold some rising trendline support: CREE and EWA
- Attempting to hold the 28 DMA here: CHK
- Trying to break above some falling trendline resistance: ARM, AVP, F
- A break out in either direction is on the way for: EWJ
- 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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