Signals: Updated based on EOD May 5, 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 6, 2008

Updated based on EOD May 5, 2008.

YI: +3
Trying to hold some rising trend line support: BA, EBAY, PBY, and SVU
Trying to hold falling trend line support: KO
Attempting to hold the 28 DMA here: CBK, MPG, NYB, and WSO
Up against rising trend line resistance: JNJ
Trying to break above some falling trend line resistance: AMD and NST
Attempting to break above the 28 DMA here: BGF
Standard overbought at this level: HMC and PTR
Extremely overbought now: AAPL, FRO, and NAT
Possible top here for: GGB
Anything posted here may be off base.

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