- Yi: +2.97
- A possible bottom here for: $GASO
- Now trying to bottom out:b FUQI and KGC
- Trying to hold the 65 DMA here: F and KFT
- Now trying to hold falling trendline support: C
- Up against rising trendline resistance: IFN
- Up against falling trendline resistance: ACAS, AMAT, ARM, CAKE
- Moderately overbought now: $GOLD, ASA, BMY, CAT, CLF
- Toppy here: AEM
- 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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