Signals: T.A. update for the open, April 30, 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 30, 2010

T.A. update for the open, April 30, 2010.

Yi: +8.53
A possible bottom here for: NOK
Trying to bottom out in this area: ELN, EWI, SPWRA, TOT
Now trying to hold some rising trendline support: CREE, CSL, NM, TSM
Attempting to hold the 65 DMA here: AVP and OCR
Up against rising trendline resistance: IDA, NEM, TSL, VFC
Now trying to break above some falling trendline resistance: EWA and KBE
Moderately overbought: $XAU and LEN
Overbought: ABX, AEM, ASA, EGO, FSLR, GDX, GG, MTH
Extremely overbought: TKR
Anything posted here may be off base.

No comments:

Subscribe to: Post Comments (Atom)