Signals: Late Day Update for April 25, 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.

Monday, April 25, 2011

Late Day Update for April 25, 2011.

YI: +9.45
A possible bottom here for: AMSC, BAC, CSCO
Now trying to bottom out in this area: $VIX
Up against some falling trend line resistance: $OEX and BPZ
Up against the 65 DMA here: AA
Moderately overbought: $IIX, $NYA50R, $OEX, $PLAT, $SPX, $WTIC, $XAU, ACAS, CAT
Standard overbought: $DJW, $DJX, ARMH, ATI
Extremely overbought: $GOLD and DGP
A bit toppy here: $CRB, $DJW-weekly, $GOLD, $SPX, AXP, DDM
A possible top here for: BA
A probable top here for: A and AGQ
Anything posted here may be off base.

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