Signals: T.A. update for the open, January 26, 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.

Wednesday, January 26, 2011

T.A. update for the open, January 26, 2011.

Yi: +9.81
Now trying to bottom out: $USD, AEM, AGQ, AQA.TO, DGP
Standard oversold: $GOLD, ABX, ASA
Moderately oversold: $IIX
Now trying to hold some rising trendline support: $CRB
Attempting to hold the 28 DMA now: $GOLD-weekly and AXP
Up against rising trendline resistance: ATI
Up against falling trendline resistance: EWA
Moderately overbought: CSCO
Standard overbought: CBZ
Extremely overbought: $DJX
Toppy here: CBZ
Anything posted here may be off base.

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