Signals: T.A. update for the open, February 15, 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, February 15, 2011

T.A. update for the open, February 15, 2011.

Yi: +10 (as of yesterday's close)
Now attempting to bottom out: $VIX, ENER, FAZ
Moderately oversold: DM
Trying to hold some rising trendline support here: $WTIC and ELY
Trying to hold the 28 DMA here: $PLAT and ASA
Up against rising trendline resistance: AA, AAPL, C
Up against falling trendline resistance here: FCX, FXI, HOGS
Up against the 65 DMA here: EGPT
Moderately overbought: CSIQ and GOOG
Standard overbought here: ATI, B, CLF, CSL, FSLR
Extremely overbought: CAT
Toppy here: $DJX, BLL, GPC
A possible top here for: $OEX, $SPX, ACAS, AXP, DDM, IWM
Anything posted here may be off base.

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