Signals: T.A. update for the open of April 12, 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.

Monday, April 12, 2010

T.A. update for the open of April 12, 2010.

Yi: +8
Now trying to bottom out: AVAV and MTH
Attempting to hold some rising trendline support: AA, ARM, GLW, JASO, SKS, TSM
Attempting to hold the 65 DMA here: $CRB and F
Trying to hold falling trendline support: BPZ
Up against rising trendline resistance: $DJX and CREE
Attempting to break above the 28 DMA here: CHK
Now trying to break above falling trendline resistance: GMR
Attempting to break above the 65 DMA here: GIS and NTES
Moderately overbought: $XAU, ABX, LOW, MKC, PHI, PTR, WDC
Overbought: ASA, ELY, EXP, FRO, FXI, GDX, RGLD
Toppy here: $PLAT, ABX, GLD, LOW
A possible top here for: BBT
A break out in either direction is on the way for: YGE
Anything posted here may be off base.

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