Signals: T.A. update for January 11, 2011.

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, January 11, 2011

T.A. update for January 11, 2011.

Yi: +9.78
Now attempting to bottom out in this area: AMSC, ASA, GG, IFN, PTEN, SLW
Extremely oversold: TLB
Moderately oversold: $XAU, EWI, FUQI, MED, PHI
Attempting to hold the 65 DMA here: NOK and SCHE
Attempting to hold the 28 day: $GOLD, CAT, DVY, GF, MMC, ROK
Up against falling trendline resistance: AEM
Up against the 65 DMA here: JASO and TAN
Moderately overbought: FSLR, SKS, TSL
Overbought: SHI and SLE
Extremely overbought now: AAPL and WY
Toppy here: CBZ, F, LMT
A break out in either direction is on the way for: CNK and WDC
Anything posted here may be off base.

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