Signals: T.A. update for the open, May 18, 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, May 18, 2010

T.A. update for the open, May 18, 2010.

Yi: +4.4
Now trying to bottom out: $XOI, AVP, BMY, BPZ, CHK, CLF
Extremely oversold: CSIQ
Oversold: $WTIC and ACH
Moderately oversold: $SPX, $DJX, $IIX, $OEX, $SOX, AA, AXP, BAC, C, CSCO
Now trying to hold rising trendline support: $GASO and ABX
Attempting to hold the 65 DMA here: $HGX, ACAS, CAKE, CAT
Attempting to hold the 28 day: AAPL, AEM, ASA
Attempting to break above the 28 day: CBZ
Moderately overbought: $VIX
Overbought: AMSC
Toppy here: $GOLD-weekly
A possible top here for: $BDI and $USD
Anything posted here may be off base.

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