Signals: T.A. update for the open, January 10, 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.

Monday, January 10, 2011

T.A. update for the open, January 10, 2011.

Yi: +9.88
A possible bottom here for: FAZ
Trying to bottom out in this area: EGO
Standard oversold now: AEM
Moderately oversold: $GOLD, DGP, EGO, IFN, JCP, PTEN, SLW, VFC
Trying to hold some rising trendline support: $XAU, CLF, SUN
Attempting to hold the 65 DMA here: AQA.TO, KFT, MED, OCR
Attempting to hold the 28 day: ATI, BMY, RJA
Trying to hold falling trendline support: TLB
Up against rising trendline resistance: $IIX
Up against the 28 DMA here: WFR
Up against the 65 day: DZZ and TSL
Moderately overbought now: $USD, BLL, CBZ, GOOG, LMT, V, VOD
Standard overbought: ELN, F, HPQ
Toppy here: $DJW-weekly, $DJX, BLL, DDM, GE, LEN, QLD, RAIL
Anything posted here may be off base.

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