- Yi: +4.58
- Trying to bottom out in this area: QID, WDC, WFR
- Oversold: $USD and WFR
- Moderately oversold: AVAV, GIS, KGC
- Trying to hold some rising trendline support: $HGX and SEED
- Attempting to hold the 65 DMA here: FSLR
- Trying to hold falling trendline support: USD
- Up against rising trendline resistance: EWI and GG
- Up against the 28 DMA here: GLD
- Up against falling trendline resistance: $GOLD, $XAU, ASA, GDX, IBM, RAIL
- Up against the 65 day: COST, ELY, ENER
- Moderately overbought now: $GASO, $IIX, $OEX, $SPX, AA, BPZ, GE, LDK, QLD, QQQQ, SU, SWK, SYY, TSLA, UGA, UYG, XLF, YUII
- Overbought: $DJX, $NYA50R-weekly, $WTIC, PTR, RJA, RJZ, T, TOT
- Toppy here: $CRB and IFN
- A break out in either direction is on the way for: ACAS, PAYX, SDTH, WATG
- 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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