- Yi: 0, +1.4
- And right on cue, the zero line of the Yi "provided" a support zone for the market.
- A possible bottom in place for: AVP and CHK
- Moderately oversold now: $DJW-weekly
- Up against the 28 DMA here: ATI and CAT
- Up against some falling trendline resistance: AA
- Up against the 65 day: AU, AVAV, BBT
- Moderately overbought: $USD
- A break out in either direction is on the way for: $SILVER
- 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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