Signals: T.A. update for November 19, 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, November 19, 2010

T.A. update for November 19, 2010.

Yi: +7.85
Now trying to bottom out: CSCO, CSIQ, EEFT, FSLR, LMT, MBI, RAIL, TSL
Oversold: CBK, SHLD, TAN
Moderately oversold: $GOLD, LDK, RAIL
Trying to hold some rising trendline support: BAC and XLF
Attempting to hold the 65 DMA here: $WTIC, HOGS, MTH, WFR
Attempting to hold the 28 day: AXP
Now trying to hold falling trendline support: FSLR, GE, NWL
Up against rising trendline resistance: COST and FAZ
Up against falling trendline resistance: GLW, LPL, PEP
Up against the 65 DMA here: JOSB
Moderately overbought now: CREE, LUFK, MEOH
Anything posted here may be off base.

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