Signals: T.A. update for the open, March 12, 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, March 12, 2010

T.A. update for the open, March 12, 2010.

Yi: +5.97
Oversold: WDC
Now moderately oversold: CTB, GLD, RJA
Trying to hold some rising trendline support: LEN
Attempting to hold the 65 DMA here: $XAU, ABX, STX
Attempting to hold the 28 day: $GOLD, GLD, PG
Up against rising trendline resistance: CREE
Now trying to break above some falling trendline resistance: ELN
Moderately overbought: BMY, FRO, GOOG, HCBK, MBI, OGE
Overbought: ELY and SUN
Extremely overbought: $IIX
Toppy here: $IIX, $OEX, $SOX, $SPX, AAPL, ARM, B, BAC, ELY, OGE
A possible top in this area for: BA
A break out in either direction is on the way for: RJI and RJZ
Anything posted here may be off base.

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