- Yi: +10, +9.2, +9.4, +9, +9.3, +9.5
- Moderately oversold: $GASO
- Attempting to hold the 28 DMA here: $BDI
- Up against the 28 DMA: $HGX, AA, AEM
- Up against some falling trendline resistance: $GOLD
- 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.
2 comments:
Yogi how is the gold mining share market going to do?
Tom/Loantech on SI. 6/9/13
If possible send me a PM on SI.
I hope all is well with you. We are fine but last time I checked we were about 15 years older than we thought!!!
Tom, Gold and silver appears to be trying to bottom out here, but of course we can never be absolutely certain. :)Only our bodies are 15 years older, our spirits remain the same! YZ
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