Signals: T.A. Opinions for June 11, 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.

Monday, June 11, 2012

T.A. Opinions for June 11, 2012.

Yi: +5.9, +6.5
Now trying to bottom out: $BDI
Moderately oversold: ABX
Trying to hold some rising trendline support: $DJGSP, AEM, GG, NUGT, SLW
Attempting to hold the 65 DMA here: AU
Up against the 28 day: $OEX, B, FCX, PG, PRBLX
Up against the 65 day: CSL, DM, KFT
Up against some falling trendline resistance: ATI, CAT, DUST, EWI, MBI, MM, RJI
Moderately overbought now: BGS, CHK, NTES
Average overbought: VZ
Anything posted here may be off base, and there may be some more signals later.

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