Signals: For E.O.D. July 20, 2007.

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.

Monday, July 23, 2007

For E.O.D. July 20, 2007.

YI: +2
Moderately oversold: DJ
Trying to hold some rising trend line support: AVP, CAT, CPB, ELY, EWG, and F
Trying to hold falling trend line support: AMTD
Attempting to hold the 28 DMA here: AA and EBAY
Trying to break above some falling trend line resistance: ERS
Attempting to break above the 28 DMA here: AMZN and BBBY
Standard overbought: ASA
Extremely overbought: AEM
Possible top here for: GG
Toppy: FXE
Going parabolic: FCX
To no position for now: AAPL and CAT
More later. Anything here may be off base.

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