- Yi: +6.65
- Trying to bottom out in this area: ABX and ENER
- Oversold: CHK
- Moderately oversold now: $GOLD, $XAU, AEM, GDX, GG, KGC, RJA
- Trying to hold some rising trendline support: $BDI, $DJW, $PLAT, ACH, ASA, EWA, IFN, LUFK, PTR
- Attempting to hold the 65 DMA here: $XOI and NEM
- Attempting to hold the 28 day: PAYX
- Attempting to break above the 65 day here: GOOG and QCOM
- Moderately overbought: AXP, BAC, PRBLX
- Overbought: $HGX, $USD, CAT, CNK, SHLD
- Toppy here: $DJX, $OEX, $SPX, ARM, BBT, CAT, CSCO, CSL, KFT, SSO
- A possible top here for: B and KBE
- A break out in either direction is on the way for: AA, CREE, PGM, SEED, TLB
- 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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