- Yi: +18.92
- Trying to bottom out: BNS and COPX
- Average oversold: GLD
- Moderately oversold: A, APD, DBP, GDX
- Attempting to hold the 65 DMA here: AEM
- Attempting to hold the 28 DMA: GM
- Up against the 65 DMA: CNK
- Up against falling trend line resistance: HA
- Up against rising trend line resistance: EROS
- Moderately overbought: CVS
- Average overbought: BGS
- Possible top here for: AMZN
- A break out either way is setting up for: ABX and AQUA
- 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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