Signals: T.A. update for the open, April 15, 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, April 15, 2010

T.A. update for the open, April 15, 2010.

Yi: +8.7 (Can it make it to ten?)
Moderately oversold now: COST
Trying to hold rising trendline support: ACH, CSIQ, LMT
Attempting to hold the 65 DMA here: $USD, AA, AVP, MEOH, UGP
Up against rising trendline resistance: DVY, GF, GPC, IFN
Trying to break above falling trendline resistance: BPZ
Moderately overbought: CTB, ELN, GOOG, RJI, TSM
Overbought: LOW, NWL, PBY, QLD, QQQQ, RAIL, SCHA, SCHB, SWK, USB
Extremely overbought: BPOP, CBK, KBE, XLF
Toppy here: ELN, MBI, NWL, OCR, SKS, URE, VFC
Going parabolic: KBE
Anything posted here may be off base.

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