Signals: T.A. update for October 7, 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, October 7, 2010

T.A. update for October 7, 2010.

Yi: +6.23
Now trying to bottom out: AXP
Trying to hold some rising trendline support: A and ENER
Attempting to hold the 65 DMA here: NTES
Up against rising trendline resistance: ACH, CNK, DDM, EWA
Up against falling trendline resistance: NAT
Up against the 65 DMA here: AVAV and BAC
Moderately overbought now: $DJW, CAKE, GE, GG, GIS, LOW
Overbought: $DJX, $OEX, $SPX, BA, EWI, OGE, PGM
Extremely overoght now: $XOI, AMSC, ASA
Toppy here: $XAU, KO, MEOH, MSCC, PGM, RJI
A possible top here for: JCP, NWL, PTR, RJZ
A probable top here for: GLD
Going parabolic: $GOLD, $PLAT, FCX, PHI
A break out in either direction is on the way for: BBT
Anything posted in this list may be off base.

No comments:

Subscribe to: Post Comments (Atom)