- Yi: +9.2 (This indicates we are now much closer to a top than a bottom! :)
- Trying to bottom out: $BDI and FUQI
- Moderately oversold: CSIQ and FAZ
- Up against the 28 DMA here: AVP
- Up against falling trendline resistance: CBK and EGO
- Up against the 65 day: BA
- Moderately overbought now: $DJX, $GASO, $GOLD, $HGX, $OEX, $SPX, $USD, $XOI, A, AA, ACAS, AMAT, AXP, B, BPZ, C, CTB, DDM, DVY, EWJ, EXP, FCX
- Standard overbought: $XAU, ABX, AEM, AGQ, BLL, CAT, CLF, COST
- Toppy here: ABX and COST
- 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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