Signals: Update based on EOD May 12, 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.

Tuesday, May 13, 2008

Update based on EOD May 12, 2008.

YI: +3
Trying to bottom out in this area: GE, KO, NOK, and SEE
Standard oversold here: CREE
Moderately oversold: BMY, C, PCU, and PG
Trying to hold some rising trend line support: FCX
Trying to hold falling trend line support: KFT
Attempting to hold the 28 DMA here: EWJ, KBE, SNE, and XLF
Up against rising trend line resistance: FRO
Attempting to break above the 28 DMA here: RGLD
Moderately overbought now: XPLT
Possible top here for: NAT
Toppy: PDS
A break out either way is on the way for: CY
Anything posted here may be off base.

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