Signals: TA for the open of April 13, 2012.

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.

Friday, April 13, 2012

TA for the open of April 13, 2012.

Yi: +8.5, +9.3
A possible bottom here for: $XAU, $XOI, AU, GG,
Now trying to bottom out: $DJGSP, BGS, CHK, HOGS, IDA, MOS, NFLX, PTEN
Oversold: NOK
Moderately oversold: BGS, HOGS, XOP
Attempting to hold the 65 DMA here: ANF and BMY
Up against the 28 day: UYG and WFR
Up against the 65 DMA: ROK and SCHC
Up against some falling trendline resistance: ACAS, CTB, EGPT, IFN, USB, X
Anything posted here may be off base, and there may be some more signals later.

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