Signals: Update based on EOD June 24, 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, June 25, 2008

Update based on EOD June 24, 2008.

YI: -2.5
Possible bottom here for: MOT
Trying to bottom out now: EBAY, GE, GM, GPC, LEN, MER, and STX
Extremely oversold: ACAS, AIG, C, and DVY
Standard oversold: AVP, FNM, PEP, PG, TTH, and XLF
Moderately oversold: AAPL, ADP, JASO, MCD, and MDC
Trying to hold some rising trend line support: AA, MKC, MSCC, QQQQ, and V
Trying to hold falling trend line support: ADP, BPOP, the IIX index, and IYY
Attempting to hold the 28 DMA here: NST
Trying to break above some falling trend line resistance: WB
Moderately overbought now: GG
Toppy here: FRO and LUFK
Anything posted here may be off base.

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