- Yi: +8.2
- A possible bottom here for: $USD
- Extremely oversold: YUII and ZSL
- Standard oversold: CREE, DZZ, EGPT
- Moderately oversold: SKS
- Attempting to hold the 65 DMA in this area: $VIX and FSLR
- Now trying to hold falling trend line support: DZZ
- Up against the 65 day: $DJW, AAPL, AMAT, ASA, BLL, EGO, ELN, PGM, PRBLX, QLD, SEE, XLU
- Up against the 28 DMA in this area: ATI and CNK
- Up against falling trend line resistance: DELL, IYY, KFT, LEN, MED, NTES, PEP, SNDK
- Moderately overbought now: $CRB, $XAU, ABX, B, BA, CLF, DGP, FCX, GDX, GF, GG, GLD, LOW, NFLX, PTR, RAIL, RJI, RJZ, SLW, UGA, VZ, XOP
- Standard overbought: SLV and WSO
- A break out in either direction is on the way for: CHK and X
- 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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