- Yi: +6.95, +6.8
- A possible bottom here for: FRO
- Trying to bottom out in this area: CTB, PAYX, SEE, WFR
- Extremely oversold: HOGS
- Standard oversold: PEP
- Moderately oversold: $BDI, AEM, QLD
- Up against some rising trendline resistance: $GOLD-weekly
- Up against the 65 day: GIS
- Moderately overbought now: $OEX, $XOI, ARMH, CAT, DDM, MMI, PHI, QLD, USB, WFC, WOR
- Standard overbought: XOP
- A possible top here for: $GOLD
- Toppy here: CHK, DELL, PTEN
- Has gone parabolic: AAPL
- A break out in either direction is on the way for: FSLR and V
- 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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