- Yi: +7.5, +7.2
- Standard oversold: A
- Moderately oversold: $USD, CSL, DPS
- Trying to hold some rising trendline support: ABX and AA
- Up against some falling trendline resistance: AKAM
- Moderately overbought now: $IIX
- A possible top here for: AAPL
- Toppy here: ASA, DGP, EGO, EWJ, FCX, GLD, GOOG
- A break out in either direction is on the way for: $CRB and $GASO
- 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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