- Yi: +8.45
- Now trying to hold some rising trendline support: DZZ
- Up against the 28 DMA here: $GOLD
- Up against some falling trendline resistance: $NYA50R-weekly, $WTIC, CTB
- Up against the 65 day: $GASO, AEM, AVP, BA, CHK, ELY
- Moderately overbought now: $DJW and $XAU
- Toppy here: $OEX, BMY, CAKE, CAT, CLF, DDM, DVY, EWJ, GOOG, GPC
- A possible top here for: AXP
- A break out in either direction is on the way for: $BDI-weekly
- Anything posted 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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