- Yi: +5.2, +5.9, +5.45, +5.25, +4.5
- Now trying to bottom out: $NYA50R-weekly chart.
- Standard oversold: $CRB, $PLAT, BA, EWI, FRO
- Moderately oversold: $DJX, $OEX, $XAU, ABX, ASA, DVY, EGO, FSLR, GDX
- Attempting to hold the 65 DMA here: AXP, BLL, DGP, DPS, EGPT
- Attempting to hold the 28 day: B
- Trying to hold falling trendline support: CHK
- Now up against the 65 day: DZZ and CNK
- Moderately overbought: $VIX, CSIQ, FUQI
- Standard overbought: AVAV
- A break out in either direction is on the way for: $BDI
- 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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