- Yi: -1.4
- Now trying to bottom out: $VIX
- Moderately oversold: CTB and GFI
- Attempting to hold the 65 DMA here: $XAU, ASA, AU, QCOM, RGLD
- Attempting to hold the 28 day: DBP, GDX, GG, JNUG, MAT, NUGT, SIVR, UGLD
- Up against the 65 day: PHI
- Moderately overbought now: $NDX, BA, EFX, GOOG, HD, MCD
- Toppy here: $DJW, $WTIC, CI, CNK, HPQ, SYMC, WOR, YYY
- A possible top here for: DRI and CAKE
- 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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