- Yi: +4.9
- AMF and WEAT are posiibly forming a bottom here.
- AU and $DJGSP are trying to bottom out in this area.
- ABX, AEM, ASA, AU, CVS, DBP, $DJGSP, GDX, GFI and GG are at the average oversold level.
- BGS is attempting to hold the 28 day.
- DUST, $UST3Y and $WTIC are moderately overbought.
- $FTSE is toppy here.
- Anything posted 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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