Signals: T.A. update for the open, November 26, 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 26, 2010

T.A. update for the open, November 26, 2010.

Yi: +8
A possible bottom here for: CSCO
Moderately oversold: ENER, FRO, TOT, WATG
Now trying to hold some rising trendline support: C, DPS, EWI, USB
Attempting to hold the 65 DMA here: $CRB, OCR, UYG, V, VOD
Attempting to hold the 28 day: A and YUII
Trying to hold some falling trendline support: ELN, EWA, UGP
Up against rising trendline resistance: CAKE
Up against some falling trendline resistance: $DJW, $OEX, AMAT, NST, NWL
Moderately overbought now: $GOLD, $USD, ABX, COST, CSL, IWM, MKC, SCHA, SUN
Overbought: CAKE, CREE, DM, PLL, USD
Toppy here: DM, IRF, TSLA
A break out in either direction is on the way for: GMR and GOOG
Anything posted here may be off base.

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