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

Monday, October 18, 2010

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

Yi: +6.6
A probable bottom here for: $USD
Extremely oversold: GMR
Standard oversold: BAC
Moderately oversold: KBE
Trying to hold some rising trendline support here: AA, EEFT, FRO
Attempting to hold the 65 DMA here: C
Moderately overbought now: $DJX-weekly, BGS, CREE, IP
Overbought: $IIX
Extremely overbought: AQA.TO, GPC, IWM
Toppy here: $NYA50R, $PLAT, $XOI, A
A possible top here for the: $DJW and FCX
A probable top here for the: $CRB and $GOLD
Going parabolic: AAPL and GOOG
A break out in either direction is on the way for: CBZ and ELY
Anything posted here may be off base.

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