Signals: Update based on the close of July 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.

Friday, July 25, 2008

Update based on the close of July 24, 2008.

YI: -4
Standard oversold: AEM and ERF
Moderately oversold: GG
Trying to hold falling trend line support: ERF and XSLV
Attempting to hold the 28 DMA here: ABX, GFI, GLD, and QID
Up against rising trend line resistance: JNJ
Trying to break above some falling trend line resistance: NST, SNE, and TLB
Attempting to break above the 28 DMA here: EWJ, EXP, and KO
Moderately overbought: HMC, PEP, PG, PHI, SEE, SNA, and WFC
Toppy: WSO
Anything posted here may be off base.

No comments:

Subscribe to: Post Comments (Atom)