- Yi: +3.3
- Oversold: $BDI and EEFT
- Moderately oversold: $VIX, NM, PHI
- Attempting to hold the 65 DMA here: $VIX, NST, PHI
- Attempting to hold the 28 day: $GOLD-weekly chart.
- Attempting to break above the 28 day: $HGX
- Trying to break above some falling trendline resistance here is: BAC, BPZ, C, CSIQ, GLW, KFT, LDK, LOW, LPL, PBW, V
- Attempting to break above the 65 day: $DJX, $GOLD, $SPX, AVP, IFN, PRBLX, QID, TSL
- Moderately overbought now: GE, MEOH, NOK, SWK
- Overbought: MTH
- A break out in either direction is on the way for: PBY
- 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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