Signals: T.A. update for the open, November 23, 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 23, 2010

T.A. update for the open, November 23, 2010.

Yi for 11-22: +8
Yi for today's open: +7.9
Now trying to bottom out: $VIX, CBK, FUQI, JASO, PEG, ZSL
Moderately oversold: $CRB, NTES, SPWRA, SWK
Trying to hold some rising trendline support: F, LEN, OCR
Up against rising trendline resistance: CAT
Up against the 28 DMA here: $DJX, $OEX, AAPL, DVY, JCP
Up against some falling trendline resistance: GMR, JCP, SEE
Moderately overbought now: ASA, AVAV, CLF, CTB, DPS, ELY, SSRI, TLB, VFC
Overbought: SLW
Extremely overbought: TSLA
Toppy here: XOP
A break out in either direction is on the way for: AQA. TO
Anything posted here may be off base.

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