- Yi: -2.4
- A possible bottom here for: $XAU, ABX, AVP
- Now trying to bottom out: ATI, CDE, CSL, CVS, IP, NUGT, JOY, NEM, PTEN, SUNE
- Extremely oversold: $PLAT, MAT, RAIL
- Moderately oversold: $GOLD, $SILVER, ANF, CAKE, GF, MED, MKC, TSLA
- Up against the 28 day moving average: $COPPER
- Up against the 65 day: DIS and EWA
- Moderately overbought: INTC
- A break out in either direction is in the cards for: $WTIC, OIL, USO
- Anything posted here could 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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