Signals: T.A. update for April 23, 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, April 23, 2010

T.A. update for April 23, 2010.

Yi: +8.7
Now trying to bottom out: CSIQ and FUQI
Oversold: NOK
Moderately oversold: BMY, EWI, QCOM, TOT
Trying to hold rising trendline support: IRF and MSCC
Attempting to hold the 65 DMA here: MOT
Attempting to hold the 28 day: GF, T, VOD
Up against rising trendline resistance: B, IWM, LPL, ROK, SCHA
Trying to break above falling trendline resistance: NEM and SHI
Moderately overbought now: BA, MKC, PTEN, UGP
Overbought: CSL, LEN, LPL, NWL, URE, V, WSO
Extremely overbought: EXP, VFC, WHR, WY
A probable top here for: JASO
Has gone parabolic: $HGX, AAPL, MBI
Anything posted here may be off base.

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