Signals: Update based on EOD July 2, 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, July 3, 2008

Update based on EOD July 2, 2008.

YI: -5
Extremely oversold: KO
Trying to hold some rising trend line support: AMAT and FRO
Trying to break above some falling trend line resistance: IFN, JCP, JNJ, KFT, OKE, WB, and XLU
Attempting to break above the 28 DMA here: ADP and SUN
Moderately overbought: PEG, RGLD, and VFC
Toppy: GLD
Anything posted here may be off base.

Thursday, July 3, 2008

Update based on EOD July 2, 2008.

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