Signals: Late Day Update for April 14, 2011.

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, April 14, 2011

Late Day Update for April 14, 2011.

Yi: +8.35
Now trying to bottom out: $USD and AEM
Extremely oversold: YUII
Standard oversold: BPZ, ELY, MMI, X
Moderately oversold: $NYA50R, FCX, LMT, PBW, QCLN, RAIL, SEE, SUN, WFR, WY
Now trying to hold some rising trend line support: AA, C, RJZ, ROK, SU, UYG
Attempting to hold the 65 DMA here: BA, CBZ, CNK, SCHB, SU, SWK, TSLA, XOP
Attempting to hold the 28 day: DDM, DM, DVY, ROK, SLW, SNDK
Up against rising trend line resistance: VFC
Up against falling trend line resistance: BGS
Moderately overbought now: A and PEP
Toppy here: V
A break out in either direction is on the way for: FUQI
Anything posted here may be off base.

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