Signals: T.A. update for the open, March 18, 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.

Thursday, March 18, 2010

T.A. update for the open, March 18, 2010.

Yi: +6.75
Trying to hold some rising trendline support here: A, BPZ, CNK
Attempting to hold the 65 DMA: $USD
Up against rising trendline resistance: ASA
Now trying to break above falling trendline resistance: ENER
Moderately overbought now: $XOI, ABX, AEM, ASA, BAC, DELL, EGO, EWA, EWI
Overbought: $HGX, $OEX, $SPX, DDM
Extremely overbought: BBT
Toppy here: $PLAT and CLF
A possible top here for: $IIX and CSL
A break out in either direction is on the way for: ELN
More later. Anything posted here may be off base.

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