- Yi: +6.2
- HSNI, NAT, and $USD are trying to bottom out.
- ABX, AU, GG, $SILVER are moderately oversold.
- AGQ, EGPT, JCP, NIB are attempting to hold the 65 DMA here.
- NEM and TWTR are trying to hold the 25 DMA here.
- MMC is now up against falling trend line resistance.
- MKC is up against the 28 DMA here.
- CANE is up against rising trend line resistance.
- IAU is preparing to break out in either direction.
- 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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