Signals: T.A. update for November 30, 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.

Tuesday, November 30, 2010

T.A. update for November 30, 2010.

Yi: +7.6
Trying to bottom out: PHI
Oversold: EWI, NM, NOK
Moderately oversold: $BDI-Weekly, $HGX, $OEX, KGC, NEM
Trying to hold some rising trendline support: $XOI
Attempting to hold the 65 DMA here: AMSC, DDM, EXP, HPQ, MSCC
Attempting to hold the 28 day: AEM and BLL
Trying to hold falling trendline support: DVY and EEFT
Up against the 65 DMA here: FAZ
Moderately overbought: AXP and BGS
Overbought: AQA. TO
A bit toppy here: CREE
A break out is in the way for: CLF and RJA
Anything posted here may be off base.

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