- Yi: +8.3
- Trying to bottom out: ABX, GFY, GG, QID, SHAK, UGLD
- Extremely oversold: EGO
- Oversold: $PLAT, $XAU, CLF
- Moderately oversold: $GOLD, DBP, IP
- Up against the 65 DMA: $USD and UUP
- Up against the 28 day: $BPSPX, $XOI, AAUKY, MOS
- Moderately overbought: ANF, CAT, VOX
- Overbought: FB, JPM, TSLA
- Toppy: $HGX, NAT, QLD, XLY
- A break out in either direction is on the way for: BGS, DM, OIL, USO, V
- 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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