Signals: Update for September 12, 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, September 12, 2008

Update for September 12, 2008.

YI: -1.5
Possible bottom here for: $IIX, $SOX, AA, AAPL, AKNS, ASA
Trying to bottom out in this area: AIG, AMAT, ELN, UGP, WATG
Extremely oversold: MER, PGM, PLG, PMPX
Moderately oversold now: B, BA, CREE, KBW, MOT, NTES, WB
Attempting to hold the 28 DMA here: EEFT, JNJ, LOW, MBI, OGE
Attempting to hold the 65 DMA here: PHI and XLF
Attempting to break above the 28 DMA here: WOR
Moderately overbought now: NST and SUN
Standard overbought: PEP
Toppy here: PG
Anything posted here may be off base.

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