Signals: T.A. update for the open, December 13, 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.

Monday, December 13, 2010

T.A. update for the open, December 13, 2010.

Yi: +10!!!
Moderately oversold now: HOGS
Attempting to hold the 65 DMA here: $PLAT and GF
Up against the 28 DMA here: EWI and PG
Up against some falling trendline resistance: NAT and NM
Up against the 65 day: FSLR, KFT, NAT
Moderately overbought: BAC, BBT, ENER, MOT, PBW, SLE
Standard overbought: CSL, GE, KBE, MMC, SCHB
Extremely overbought: CREE, IWM, PLL, ROK
A bit toppy here: BAC, BBT, CBZ, HCBK, IP, KBE, MMC, QCOM, SLE
A possible top here for the $CRB index, CAKE, IRF, PBY, RAIL
A break out in either direction is on the way for: F and IBM
Anything posted here may be off base.

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