Signals: T.A. update for the open, January 25, 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 25, 2011

T.A. update for the open, January 25, 2011.

Yi: +9.79
Now attempting to bottom out: AMSC, ASA, NAT, UUP
Standard oversold: $XAU, GG, GMR
Moderately oversold now: CNK, DPS, FRO, GLD, HOGS
Trying to hold some rising trendline support: AAPL, PTR, SLE
Attempting to hold the 65 DMA here: B
Attempting to hold the 28 day: $IIX
Now trying to hold falling trendline support: FRO
Up against the 65 day: $WTIC and JCP
Moderately overbought now: BBT, EWI, NTES, PEG, WSO, YGE
Standard overbought: FSLR, PAYX, RJA, TSL
Extremely overbought: WY
Toppy here: HPQ, PG, RJA
Going parabolic: WY
A break out in either direction is on the way for: MSFT, OCR, PHI, SKS
Anything posted here may be off base.

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