- Yi: +3.4
- Moderately oversold: F, GM, GT, LPL, MSI, UUP
- Attempting to hold the 65 day moving average here: MET
- Now up against the 65 day: IAU, UGLD, UGP
- Now up against the 28 day: I, M, RAIL, TKR
- Moderately overbought: GDX, GG, HSY, IP, JCP, NEM, NUGT, NUS, O, PAYX, PFF, RGLD, SLW, STX, WEM, WOR, YYY
- Average overbought: P
- A bit toppy here: GLW, IDA, P, PHI
- A break out in either direction is on the way for: PYPL and SYMC
- And as is always the case of course, anything posted here may be off base depending on market conditions.
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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