- Yi: +11.28
- Attempting to bottom out at this level: $USD and Z
- Extremely oversold: CORN
- Average oversold: DUST
- Moderately oversold: BGS, $CRB, PEP, TRV, USO
- Now trying to hold on to rising trend line support: DBO and HSY
- Attempting to hold the 28 DMA: STMP and TPX
- Moderately overbought: ABX, AGQ, AEM, CEF, DBP, EROS, $GOLD, HBI, GDX, JNUG, LL, NEM, NUGT, SIVR, SLV, UGLD, XRX
- Average overbought: $DJGSP, RGLD, $XAU
- Toppy here: $FXT
- A possible top here for: PEG
- A break out in either direction is setting up for: SHLD
- 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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