- Yi: +2.7
- Trying to bottom out here: CREE, SLW, WDC
- Oversold: CREE and NUGT
- Moderately oversold now: $DJGSP, $XAU, ACH, AUQ, CLF, COST, FAZ, GDX, GG, GLD, PGM, RJZ, SLV, SLW
- Trying to hold some rising trendline support: ELN
- Attempting to hold the 65 DMA here: AKAM
- Up against the 65 day: $NYA50R and C
- Moderately overbought here: DUST and XLU
- Overbought: JCP
- A break out in either direction is on the way for: A, AA, BA, CTB, OCR, PEP
- 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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