Signals: S&O's for the July 16, 2007 close.

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.

Tuesday, July 17, 2007

S&O's for the July 16, 2007 close.

YI: +4
Trying to bottom out: The dollar.
Moderately oversold: BKC
Trying to hold some rising trend line support: CDE, FCX, PTR, and RADN
Trying to hold falling trend line support: PTEN
Attempting to hold the 28 DMA: NTES
Trying to break above some falling trend line resistance: SRZ and WHR
Attempting to break above the 28 DMA: AMTD, APPB, BAC, IYR, MDC, NWL, and TOL
Moderately overbought: EXP, USA, WNG, and X
Standard overbought: ARM, AU, BVN, KO, MCD, MRVL, and PLL
Extremely overbought: CY, IYM, PRAA, SMH, and STP
Toppy: The DJ-30.
Probable top for: The IIX index.
To a sell: AA and AAPL
Anything here may be off base.

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