Signals: T.A. Opinions for August 15, 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.

Wednesday, August 15, 2012

T.A. Opinions for August 15, 2012.

Yi: +8.9
Now trying to bottom out: FB and ZNGA
Moderately oversold: $PLAT, NCR, RAIL
Trying to hold some rising trendline support: CAT, GLD, IAU
Attempting to hold the 65 DMA here: DGP
Attempting to hold the 28 day: $CRB, GLD, GPC, IAU
Up against the 28 day: WSO
Up against the 65 day: CSL, NAT, SFD
Moderately overbought: ROK, SCHM, SHLD, SKSM UYG, VBR, VIS
Average overbought: GOOG, IP, LMT, QCOM, QLD, QQQ
Toppy here: GOOG, WDC, XLE
A possible top here for: AAPL
A break out in either direction is on the way for: C, IDA, ONXX, SLV
Anything posted here may be off base.

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