- Yi: -0.9
- Possible bottom here for: $COPPER and $GASO
- Trying to bottom out: $SILVER, RGLD, SLV
- Moderately oversold: $VIX and QID
- Trying to hold the 65 DMA here: $GOLD
- Trying to hold the 28 day: FXF
- Up against the 28 day: CAKE, HSY, SPWR
- Up against the 65 day: AAPL, ARMH, NAT, NFLX
- Moderately overbought: $NDX, $SPX, AIG, CLF, CSL, SHLD
- Overbought: S
- A break out in either direction is on the way for: CORN
- 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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