Signals: T.A. update for the open, November 10, 2009.

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, November 10, 2009

T.A. update for the open, November 10, 2009.

Yi: +4.25
A possible bottom here for: FSLR and GMR
Attempting to hold the 65 DMA here: PHI
Attempting to hold the 28 day: $CRB, RJA, RJI
Attempting to break above the 28 day: IWM
Attempting to break above the 65 day: CBK, LOW, NTES, OCR
Moderately overbought now: CAT, ELN, IFN, LMT, PEP
Average overbought: ACF, GDX, GG, RGLD
Extremely overbought: $GOLD-weekly, ABX, PG, UGP, V
Toppy here: TSL
A possible top here for: GLD
Anything posted here may be off base.

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