- Yi: +6.7
- Now attempting to bottom out: A, BAC, F, FRO, FXI, GE, HCBK, HPQ, KBE, MMI, NAT, TAN
- Extremely oversold: FRO
- Standard oversold: MMI and NOK
- Moderately oversold: EWA, IRF, ROK
- Trying to hold some rising trendline support here: GF
- Attempting to hold the 65 DMA: $NYA50R, AKAM, CSIQ
- Trying to hold falling trendline support here: GLW
- Moderately overbought now: $XAU, ABX, SPWRA, UGA
- Standard overbought: GLD
- Toppy here: IDA
- A possible top here for: VFC
- A break out in either direction is on the way for: GTSO
- 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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