Signals: T.A. update for the open, February 14, 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, February 14, 2011

T.A. update for the open, February 14, 2011.

Yi: +10
Now trying to bottom out: AMSC and CSCO
Standard oversold: AKAM and ENER
Moderately oversold: ABX, AMSC, DPS, HOGS
Now trying to hold some rising trendline support: $XAU, $XOI, AEM
Attempting to hold the 65 DMA here: ACH and DZZ
Attempting to hold the 28 day: $GOLD-weekly
Up against the 28 day: $USD
Now up against some falling trendline resistance: $NYA50R
Up against the 65 day: $GOLD and ARM
Moderately overbought now: $HGX, AXP, CNK, CTB, IDA
Standard overbought: AAPL, BA, GPC, JCP
Extremely overbought: $DJX
Toppy here: $IIX and JCP
Anything posted here may be off base.

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