Signals: T.A. update for the open, January 29, 2010.

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.

Friday, January 29, 2010

T.A. update for the open, January 29, 2010.

Yi: +2.65
A possible bottom here for: ABX, ACH, C, FCX
Attempting to bottom out: $GOLD, ASA, PAYX, SHI
Oversold: $CRB, $XOI, AA, ASA, BPZ, DELL, ENER, EWI, QCOM, SLV, TOT
Moderately oversold: AVP, B, CHK, DDM, PEG, PEP, RJZ, XLU, WY
Attempting to hold the 65 DMA: $VIX, CSL, PHI, PLL, SKS
Attempting to hold the 28 day: GE and OGE
Moderately overbought: BA, MTH, NOK, PG
Overbought: AVAV
Toppy here: GIS
A break out in either direction is on the way for: BPOP, JOSB, MMC
Anything posted here may be off base.

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