Signals: T.A. update for the open, October 29, 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.

Friday, October 29, 2010

T.A. update for the open, October 29, 2010.

Yi: +7.16
Trying to bottom out: BAC and NAT
Moderately oversold: AVP and WHR
Trying to hold some rising trendline support: $PLAT and CSCO
Attempting to hold the 65 DMA: ELN
Attempting to hold the 28 day: CAT, MBI, PX, SEE
Up against rising trendline resistance: VOD
Up against the 28 day: $USD
Moderately overbought: GG
Overbought: ACAS and FSLR
A possible top here for: MEOH
A break out in either direction is on the way for: $BDI, $XOI, ENER, GLW, UGP
Anything posted here may be off base.

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