- Yi: +2.67
- Now trying to bottom out: $BDI and $HGX
- Oversold: $HGX and SWK
- Moderately oversold: AVAV, BAC, EXP, FCX, GMR, PHI, RAIL, RGLD, URE, USD
- Trying to hold some rising trendline support: $GASO, $WTIC, $XAU, AEM, ASA, C, FUQI, PTR
- Attempting to hold the 28 DMA here: $DJX, $IIX, UGA
- Trying to hold falling trendline support: STX and WY
- Up against falling trendline resistance: LEN
- Up against the 65 day: RBS
- Moderately overbought here: SHI
- 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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