- Yi: +6.0
- CLF, CMG, DF and $USD are trying to bottom out.
- PTF is moderately oversold.
- GDDY is attempting to hold the 65 day moving average.
- EWA, EWI, FEU and GFI are attempting to hold the 28 day moving average.
- DBA and BAC are up against falling trend line resistance.
- $BDI is up against the 28 day moving average.
- GPC is moderately overbought.
- $WTIC is overbought.
- ANF and IYG are a bit toppy here.
- $GOLD and COST are getting ready to break out in one direction or another.
- 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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