Signals: Technical Analysis Opinions for September 24, 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, September 24, 2012

Technical Analysis Opinions for September 24, 2012.

Yi: +9.7
A possible bottom here for: DUST and ZSL
Trying to bottom out: $VIX
Trying to hold some rising trendline support: AGQ and CNK
Attempting to hold the 65 DMA here: $WTIC, AXP, CHK, QCLN
Attempting to hold the 28 day: AA, BLL, CLF, SCHH, SFD, WFR
Moderately overbought now: HOGS, IDA, KFT, VZ, XLP
Average overbought: VOX
A possible top here for: $XAU, ABX, B, BGS, GDX, GE, GG, GM, SEE, SLW, WSO
A break out in either direction is on the way for: NFLX
Anything posted here may be off base.

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