- Yi: +6.72
- A possible bottom here for: FUQI and PTEN
- Now attempting to bottom out in this area: EEFT, ENER, JASO, TAN
- Moderately oversold: BPZ, EGO, GOOG, LDK, SEED, SSRI
- Trying to hold some rising trendline support: ACAS, ACH, CAKE, COST, EWA, F, FCX, IBM, IYY, KBE, KGC, MFE, MOT, NAT, PBW, PGM, PTR, SCHB, SCHG, SHLD, SLV, SYY, URE, USD, V, WOR, XOP
- Attempting to hold the 65 DMA here: $XAU, ABX, AEM, LEN, MTH, STX, UGP, VOD
- Attempting to hold the 28 DMA here: ACF
- Extremely overbought now: BA
- Toppy here: OGE
- 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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