- Yi: +10
- Now trying to bottom out: AMSC and CSCO
- Standard oversold: AKAM and ENER
- Moderately oversold: ABX, AMSC, DPS, HOGS
- Now trying to hold some rising trendline support: $XAU, $XOI, AEM
- Attempting to hold the 65 DMA here: ACH and DZZ
- Attempting to hold the 28 day: $GOLD-weekly
- Up against the 28 day: $USD
- Now up against some falling trendline resistance: $NYA50R
- Up against the 65 day: $GOLD and ARM
- Moderately overbought now: $HGX, AXP, CNK, CTB, IDA
- Standard overbought: AAPL, BA, GPC, JCP
- Extremely overbought: $DJX
- Toppy here: $IIX and JCP
- 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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