- Yi: +11.5
- GFI is possibly forming a bottom in this area.
- SLW is attempting to bottom out.
- AEM, AU, JNUG, POT, RAIL and $XAU are at the average oversold level.
- ABX, ASA, ATI, $CRB, GG, I, MOS, NEM, $PLAT, PMPIX, UGA and YUM are moderately oversold.
- CMG and Q are trying to hold rising trend line support.
- $GASO and PFF are attempting to hold the 65 DMA.
- AGQ, DBP, EWA, GLDI, IAU and $SILVER are attempting to hold the 28 DMA.
- BWA, DUST, GBTC and KO are moderately overbought.
- HD is at the average overbought level.
- FL, TILE and WY are a bit toppy here.
- USB is possibly forming a top at this level.
- WHR 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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