Signals: TA for the open of June 20, 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, June 20, 2011

TA for the open of June 20, 2011.

Yi: +4.65, +4.85
A possible bottom here for: HCBK and HOGS
Now trying to bottom out: AKAM, CAT, EWI, F, HPQ, PBW, PBY
Extremely oversold: HOGS
Standard oversold: $DJW, $WTIC, $XAU, $XOI, ATI, CLF, GDX, GOOG, NCR
Moderately oversold: $CRB, $PLAT, ARMH, AVAV, AVP, IP
Attempting to hold the 65 DMA here: $BDI, AXP, BLL, GF, NFLX
Up against some falling trendline resistance: FSLR
Up against the 65 DMA here: CNK and MMI
Moderately overbought: $USD, $VIX, LMT
A break out in either direction is on the way for: EWJ, MMC, PEP
Anything posted here may be off base.

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