Signals: T.A. update for the open, March 5, 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 5, 2010

T.A. update for the open, March 5, 2010.

Yi: +4.6
Now trying to hold some rising trendline support: $SOX, ACAS, EXP, PLL
Attempting to hold the 28 DMA here: $USD
Up against rising trendline resistance: JOSB
Attempting to break above the 28 DMA here: EWI
Now trying to break above some falling trendline resistance: AVAV, KO, MBI
Attempting to break above the 65 day: $XAU, C, FCX, GF, NST
Moderately overbought now: $WTIC, $XAU, NEM
Overbought: $GASO, F, PEP
Toppy here: CAT, DVY, GIS, OCR, PBY
A possible top here for: A and CAKE
A break out in either direction is on the way for: NAT and PG
More later. Anything posted here may be off base.

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