Signals: T.A. update for the open, January 28, 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.

Friday, January 28, 2011

T.A. update for the open, January 28, 2011.

Yi: +10
Trying to bottom out here: FAZ
Standard oversold: DGP
Moderately oversold: GIS
Now attempting to hold some rising trendline support: $WTIC and BGS
Up against rising trendline resistance: BPZ and CAT
Now up against the 28 DMA: DPS
Standard overbought: BLL
Moderately overbought: ARM and BMY
A possible top here for: DDM, DVY, EWI
A probable top here for the: $OEX and GF
A break out in either direction is on the way for: A
Anything posted here may be off base.

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