- A possible bottom forming here for: OIL
- Moderately oversold: F, GE, LEN, M, PHI, PTEN, PYPL, SEE, SU, WFM
- Trying to hold rising trend line support: GPC
- Attempting to hold the 28 DMA here: GM and JCP
- Moderately overbought: IAU and UGLD
- At the average overbought level: NEM
- Toppy here: GDX, JNUG, NUGT, SLV, SLW
- A break out in either direction is on the way for: EROS and IP
- 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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