- Yi: +2.916
- Now trying to bottom out: BPZ and SDTH
- Trying to hold some rising trendline support here: FXI
- Attempting to hold the 65 DMA: ABX and QID
- Attempting to hold the 28 day: SUN
- Trying to hold falling trendline support: RGLD
- Now up against falling trendline resistance: $CRB, KFT, NM, SEED
- Up against the 65 DMA here: $DJW, AVAV, AVP, MSCC, PRBLX, QCOM, SLV, YUII
- Moderately overbought now: $SPX, AVAV, AVP, EEFT, PG, PLL, QCOM, SSO, STX, T, TIE, TOT, WY
- Toppy here: $IIX and VOD
- A break out in either direction is on the way for: CLF, MEOH, RJZ
- 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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