Signals: T.A. update for the open, April 27, 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.

Tuesday, April 27, 2010

T.A. update for the open, April 27, 2010.

Yi: +8.73
Trying to bottom out in this area: QCOM
Moderately oversold: ELN and GOOG
Now trying to hold some rising trendline support: AVAV
Moderately overbought: EGO, GDX, GLW, MTH, PLL, SLV
Overbought: EXP, F, NM, SHLD, SWK, SYY
Extremely overbought: CAT, IWM, JOSB, TLB
Toppy here: $SOX, $SPX, B, CSCO, CSL, EXP, IWM, JOSB, MKC
A possible top here for: ARM, RAIL, SLW
A probable top here for: $DJX, AAPL, OGE, PBY, RBS, ROK, SCHA, SCHG, SKS, TKR
Has gone parabolic: CAT and WHR
Anything posted here may be off base.

No comments:

Subscribe to: Post Comments (Atom)