Signals: Based on EOD Dec. 18, 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.

Wednesday, December 19, 2007

Based on EOD Dec. 18, 2007.

The ol' traditional "Santa Claus rally" time may finally be here now...

YI: -0.5
Trying to bottom out: AAUK, ABX, ACH, AEM, AMAT, ARM, BHP, the BKX index, EJ, ERIC, EWA, EWD, EXP, GFI, MSCC, NYB, PCU, PTR, SHI, STMP, SYY, TICC, TLB, TZOO, UGP, WOR, and WPL
Standard oversold: ADP, BA, and UGP
Moderately oversold: CAT, CMI, the DJ-30, the DRG index, DVY, EBAY, EEM, ELN, EWJ, EWU, FCX, GF, GG, the IIX index, KFT, MER, NSC, NSM, the OEX index, PAYX, QQQQ, RIO, SNA, the S&P-500, TKR, TOT, TSM, the VXO, WTS, WY, and XLF
Trying to hold some rising trend line support: CDE, KO, NTES, SNE, STX, X, and XMSR
Trying to hold falling trend line support: AA, AMD, CREE, EWJ, GLW, MOT, the OEX index, PTEN, REDF, SGP, SMTC, the S&P-500, and TSU
Attempting to hold the 28 DMA here: AAPL, CY, IYM, JNJ, KO, MCD, and PLL
Trying to break above some falling trend line resistance: BMY, CAKE, HMC, IDU, and SKS
Standard overbought: MPG and XPLT
Anything here could be off base.