Signals: TA based on the closing prices of April 22, 2008.

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, April 23, 2008

TA based on the closing prices of April 22, 2008.

YI: +1
Standard oversold at this point: CSL
Moderately oversold now: ABX and PG
Trying to hold some rising trend line support: AVP, BPOP, CY, GPC, and IWM
Attempting to hold the 28 DMA here: AEM, ASA, EXP, MER, and RGLD
Trying to break above some falling trend line resistance: PTR
Attempting to break above the 28 DMA here: GM and TSU
Up against rising trend line resistance: GGB
Moderately overbought now: NLY
Extremely overbought: FCX
Possible top here for: BHP, FRO, and the XCI index.
Toppy here: ALEX, EWI, GF, NAT, PDS, RIO, TOT, and V
Anything posted here may be off base.

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