- Yi: +6
- A possible bottom here for: MMI
- Trying to bottom out here: $USD , AVP, CLF, CREE
- Standard oversold: $IIX, $NYA50R, $PLAT, DM
- Moderately oversold: $DJW, AXP, BA, BMY
- Attempting to hold the 65 DMA here: $GOLD, ATI, BPZ, EWI
- Up against some falling trendline resistance here: CAT
- Up against the 65 DMA here: BBT and FCX
- Moderately overbought: CHK
- Standard overbought: $VIX
- A break out in either direction is on the way for: AA
- 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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