Signals: TA for the open of July 12, 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.

Tuesday, July 12, 2011

TA for the open of July 12, 2011.

YI: +8, +6.8
Now trying to bottom out: BAC
Extremely oversold: FRO
Standard oversold: EGPT, EWI, MMI
Moderately oversold: $DJW, A, ATI, BA, BBT, C, CNK, CTB, DZZ, EXP, F, FXI, HPQ, IRF, JCP, KBE, NAT
Attempting to hold the 65 DMA here: $IIX, $OEX, $SPX, ACAS, CSL, GOOG, IYY, LMT, PEG, PEP
Attempting to hold the 28 day: $HGX, AKAM, CHK, DPS, MMC
Up against the 65 day: $CRB, $GASO, ABX
Moderately overbought now: $GOLD, FAZ, GG, GLD
A break out in either direction is on the way for: MED
Anything posted here may be off base.