Signals: T.A. update for the open, October 14, 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 14, 2010

T.A. update for the open, October 14, 2010.

Yi: +6.9
Trying to bottom out in this area: TLB
Extremely oversold now: $VIX
Moderately oversold: HCBK
Attempting to hold the 65 DMA here: BPOP, FSLR, MOT, OCR, WOR
Up against rising trendline resistance: KGC, PBY, PTR, QLD
Up against falling trendline resistance: USB
Moderately overbought now: STX, URE, USD, WATG
Overbought: ARM, DELL, PTEN, SHI, SKS, WFR
Extremely overbought: $DJW, FXI, GOOG, LUFK, SSRI, VFC
Toppy here: F
A possible top here for: JOSB and MSCC
A probable top here for: AMSC, IBM, JCP
Going parabolic: $CRB, FCX, GLD, RJZ, SLV, UGP
A break out in either direction is on the way for: BMY and FRO
Anything posted here may be off base.

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