- Yi: +8.9
- Trying to bottom out: FAZ
- Moderately oversold: DUST
- Attempting to hold the 65 DMA here: $USD
- Attempting to hold the 28 day: COST
- Up against the 28 day moving average: ABX and ELY
- Up against the 65 day: AAUKY, AGQ, EGO
- Up against some falling trendline resistance: DBB
- Moderately overbought: $GASO, $WTIC, A, C, CHK, CREE, CSCO, DBO, DDM, EGPT, EWI, FCX, GE, GF
- Average overought: $SPX, AMAT, ARMH
- Toppy here: $GASO, $SPX, EFV
- 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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