- Yi: -0.9
- Possible bottom here for: $FXT, ATI, UGA
- Trying to bottom out here: $DJGSP, $XAU, ABX, ASA, AVP, CDE, DBC, GDX, JOY, NEM, NUGT, PTEN, SIVR, SLV, SLW, TKR, XLE
- Moderately oversold: AEM
- Trying to hold the 65 DMA here: $PLAT, GFI, IAU, UGLD
- Trying to hold the 28 DMA here: DBP
- Up against the 28 day: ANF, JDST, NFLX
- Up against the 65 day: GOOG, STX, SU
- 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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