- Yi: +5.1
- Oversold: $USD
- Moderately oversold: AXP, DM, FRO
- Now trying to hold some rising trendline support: $CRB, AMAT, COST
- Up against the 65 DMA here: $VIX and FUQI
- Moderately overbought: COGO and F
- Overbought: $GOLD-weekly, $PLAT, $WTIC, AMSC
- Toppy here: $WTIC and $XOI
- A break out in either direction is on the way for: CSCO
- 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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