- Yi: +3.65
- Now trying to bottom out in this area: CSL
- Moderately oversold here: DPS
- Trying to hold some rising trendline support: AEM, GG, GLD, PGM, WFR
- Attempting to hold the 65 DMA here: PBY
- Trying to hold falling trendline support: CREE
- Up against rising trendline resistance: EWA and IFN
- Up against some falling trendline resistance: SEE
- Up against the 65 DMA here: C and KBE
- Moderately overbought: $GOLD-weekly, $OEX, GOOG, LEN, MEOH, NWL
- Standard overbought: JASO, PEP, PHI
- A bit toppy here: NWL
- A break out in either direction is on the way for: $USD, BGS, PBW, VOD, WDC, XLU
- 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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