- Yi: -3.9
- A possible bottom here for: DYN
- Now trying to bottom out: BAC, C, CHK, FXF, PTEN
- Attempting to hold the 28 DMA here: $VIX
- Up against the 28 day: EBAY, GPC, JNUG, MSI, ROK
- Up against the 65 day: FCX, GT, ORCL, S, RYE
- Moderately overbought now: $DJGSP, $GOLD, AEM, AU, CEF, COH, DBP, JNJ, NEM, PG
- Overbought: O
- A break out in either direction is on the way for: GE and GM
- 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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