Signals: Update based on EOD June 11, 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.

Thursday, June 12, 2008

Update based on EOD June 11, 2008.

YI: -1.5
Trying to bottom out: SUN
Standard oversold: ASA, BMY, GFI, PTR, and TSU
Moderately oversold: CY, EWJ, the IIX index, and NAT
Trying to hold some rising trend line support: ABX, RGLD, SNA, and XSLV
Trying to hold falling trend line support: AAUK, CBK, FNM, PAYX, PCU, and TSM
Attempting to hold the 28 DMA: LUFK
Trying to break above some falling trend line resistance: KO
Attempting to break above the 28 DMA: PEP
Moderately overbought: FCX
Standard overbought: PEG
Anything posted here may be off base.

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