- Yi: +3.7
- A possible bottom here for: CNK
- Now trying to bottom out: CORN, DBC, VFC
- Oversold: NCR
- Attempting to hold the 28 DMA here: GDDY and P
- Up against the 28 day: AXP, GPC, XLB
- Up against the 65 day: $CRB, $HGX, AMCC, WY
- Moderately overbought: $PLAT EGPT, IDA, SCHH
- Toppy here: CREE
- A break out in either direction is on the way for: IAU, PHI, UGLD, Z
- Anything posted here could be a bit 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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