- Yi: +4.4
- A possible bottom here for: $XAU, ABX, ASA, CDE
- Trying to bottom out: $DJGSP
- Oversold: $WTIC and BLL
- Moderately oversold: CNK
- Trying to hold the 65 DMA here: CSL
- Moderately overbought: CAKE
- Extremely overbought: $BDI
- Toppy: AIG, CMG, COST, CVS
- 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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