Signals: T.A. Opinions for August 14, 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.

Tuesday, August 14, 2012

T.A. Opinions for August 14, 2012.

Yi: +8.9, +9, +9.1, +9
A possible bottom here for the: $VIX
Now trying to bottom out: BMY and DM
Extreme;y oversold: DM
Moderately oversold: $BDI-weekly
Attempting to hold the 65 DMA here: GLD, NCR, NOK
Attempting to hold the 28 day: ONXX and XLU
Up against the 65 day: ANF, CSL, GM, HPQ, IAU, IRF, JCP, LOW, PBW, PTR
Moderately overbought now: BLL, CAT, JDSU, MBI, MM, PAYX, QCLN, VOX
Average overbought: AAPL, SLW, STX, WDC
Toppy here: $NYA50R, PAYX, SLW, STX
A break out in either direction is on the way for: GIS
Anything posted here may be off base.

No comments:

Subscribe to: Post Comments (Atom)