- Yi: +3.04
- Standard oversold: B and UGA
- Now trying to hold rising trendline support: PEP, PHI, VOD
- Attempting to hold the 28 DMA here: $USD
- Up against some falling trendline resistance: $HGX, AMSC, CAKE, CSL, JOSB, LOW
- Up against the 65 day: $BDI, $PLAT, A, AA, ACAS, AVAV, ENER, MTH, PEG, PG, PGM, SDTH
- Moderately overbought now: $XAU, GDX, GG, MKC, NEM, RGLD, SLE, SLW, SSRI, X
- Standard overbought: AEM, EGO, UGP
- Toppy here: CLF, IFN, PX, SHI, SLW, T
- A break out in either direction is on the way for: C, CNK, DPS, MBI
- 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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