Signals: Update based on EOD June 19, 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.

Friday, June 20, 2008

Update based on EOD June 19, 2008.

YI: -0.5
Trying to bottom out: ACAS, DVY, KBE, NWL, and PEP
Extremely oversold again: MOT
Standard oversold: JCP, KO, and SEE
Moderately oversold: CAT, IYY, JNJ, PG, and SNA
Trying to hold some rising trend line support: EWI, HMC, MCD, QQQQ, and SNE
Trying to hold falling trend line support: DJ-30 and PG
Attempting to hold the 28 DMA here: IDA
Up against rising trend line resistance: AAUK and LUFK
Trying to break above some falling trend line resistance: ABX and MSCC
Attempting to break above the 28 DMA here: BHP and JASO
Standard overbought: CSIQ
Anything posted here may be off base.

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