- Yi: +11.2
- ASA, AU, BBRY, BGS, CAR, CHK, $DJGSP, GDX, GG, JNUG, NUGT, RGLD, SLW and $XAU are possibly forming a bottom here.
- AGQ, COPX, MAT, NAT, PMPIX, UGLD and VOX are attempting to bottom out in this area.
- ATI is at the average oversold level.
- CAT, CIEN, $COPPER, CPER, CW, $GOLD, IAU, IP, JJG, $NYA50R, O, PTEN, PTM, SFTBY, SIVR, SLV and SOYB are moderately oversold.
- B is attempting to hold rising trend line support.
- GLDI, GLW, MDY and SCHB are attempting to hold the 65 DMA.
- B and IYJ are attempting to hold the 28 DMA.
- CALM is up against the 28 DMA.
- PNRA and $USTY30Y are moderately overbought.
- JNJ 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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