- Yi: +0.7
- Now trying to bottom out: CAR, CTB, DBC, EWI
- Standard oversold: CREE and DB
- Moderately oversold: $COPPER, $GASO, $WTIC, B, COPX, EFV, FCX, GDDY, GT, MOS, QCOM, WFC
- Attempting to hold the 65 DMA here: GOOG, GPC, HPQ, ORCL, PEG, $SPX
- Trying to hold the 28 DMA: CSCO, $DJW, FXI, GE, IP, PEGI
- Up against the 28 DMA: $VIX
- Standard overbought: EGPT
- Toppy here: BMY
- A break out in either direction is on the way for: AEM and NUGT
- 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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