- Yi: +2.8
- Extremely oversold: DGP
- Oversold: EGO and EGPT
- Moderately oversold now: CNK, DELL, FAZ
- Now trying to hold some rising trendline support: BA
- Attempting to hold the 65 DMA here: CAT
- Trying to hold some falling trendline support: $DJGSP, $GOLD, $SILVER, $XAU, AEM, ASA, FCX
- Moderately overbought now: $DJX, $NYA50R, DDM, DPS, DZZ, EEFT
- Overbought: DUST, DVY, EXP
- Toppy here: $IIX, $WTIC, $XOI, AAPL
- A break out in either direction is on the way for: FXI
- Anything posted here may be off base, and there may be some more signals later.
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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