- Yi: +0.25
- A possible bottom here for: $HGX, LEN, LMT, STX
- Trying to bottom out here: EXP, FUQI, GE, HPQ, PAYX, SEE, X
- Moderately oversold now: DUST and PHI
- Up against the 28 DMA here: CHK
- Up against some falling trendline resistance: CAT, CLF, EGPT, F, LOW, MED, SEED, SFD, SUN, V, VZ, WOR, XLU
- Up against the 65 day: BMY, CNK, ELN, TLB
- Moderately overbought now: $DJGSP, $XAU, ABX, AU, CREE, CSCO, GDX, GG, MMI, NTES, NUGT, PGM, SLW
- Extremely overbought: The $GOLD weekly chart.
- A bit toppy here: EGO
- A possible top here for: DGP
- A probable top here for: $GOLD
- A break out in either direction is on the way for: SLV and ZSL
- 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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