Signals: Late day update, December 15, 2010.

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, December 15, 2010

Late day update, December 15, 2010.

Yi: +10 and topping out.
Moderately oversold now: AMSC
Trying to hold some rising trendline support here: ACAS, AEM, BAC, CAKE
Attempting to hold the 28 DMA: $USD
Up against rising trendline resistance: AQA.TO
Up against falling trendline resistance: CBK
Moderately overbought: COGO
Standard overbought: DDM
Extremely overbought: CAT
Toppy: DDM
A possible top here for: BLL
A probable top here for: $HGX, $OEX, $SPX, $VIX, $XOI, A
A break out in either direction is on the way for: AVP
Anything posted here may be off base.

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