- I is attempting to bottom out in this area.
- AEM, AU, CEF, GDX, GFI, GG, JNUG, NUGT, SHLD and UGLD are extremely oversold.
- EROS is at the average oversold level.
- ATI is moderately oversold.
- IP is attempting to hold rising trend line support.
- GDX is attempting to hold falling trend line support.
- CHK and GE are attempting to hold the 65 DMA.
- CAT, MMC, MTH, NAT and RAIL are attempting to hold the 28 DMA.
- PYPL is up against the 28 DMA.
- BMY is moderately overbought.
- MCD, MSFT and ORCL are a bit toppy at this level.
- TSM is setting up to break out either up or down.
- 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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