- Yi: +1.2
- A possible bottom here for: $HGX and A
- Now attempting to bottom out in this area: AEM, BPOP, COST, GG, RGLD, SKS
- Oversold: SSRI
- Moderately oversold now: $USD, PRBLX, SLV
- Attempting to hold the 65 DMA here: SLW
- Up against the 28 DMA here: MBI and MFE
- Up against some falling trendline resistance here: AAPL, ACF, ACH, AMAT, BAC, CREE, CSCO, CSIQ, DELL, EXP, GMR, IRF, LOW, LPL, MEOH, PGM, RAIL, RBS, RJI, SEED, TLB
- Up against the 65 DMA here: EWI, GIS, IFN, MKC, MMC, OGE, PHI
- Moderately overbought: FSLR, NTES, PEG, PHI, PTEN, RJA, TSM
- A break out in either direction is on the way for: PTR and 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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