- Yi: +3.7
- DBA is possibly forming a bottom in this area.
- NIB and PNRA are attempting to bottom out.
- PTM is extremely oversold.
- CAR, CIEN, $DJW, IJH, IJR, IWM, MDY, $NYA50R and $SPX are moderately oversold.
- IYG and XLK are attempting to hold the 65 day.
- SMH is attempting to hold the 28 day.
- DRI and GBTC are moderately overbought.
- DF is setting up to break out in either direction.
- 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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