- Yi: +6, +4.8
- Trying to bottom out in this area: $VIX
- Moderately oversold: $USD
- Trying to hold some rising trendline support: ARMH
- Attempting to hold the 65 DMA here: $GOLD
- Up against the 65 day: $DJW-weekly and AA
- Moderately overbought now: $GOLD, $XAU, ABX, ASA, CNK
- Overbought: $DJX and AMAT
- Extremely overbought: $NYA50R-weekly chart.
- Toppy here: $DJX, $OEX, $XOI, AVAV, AXP, BA, CAT
- 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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