Signals: T.A. update for the open, February 16, 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, February 16, 2011

T.A. update for the open, February 16, 2011.

Yi: +9.8
Trying to bottom out here: DPS
Standard oversold: NOK
Moderately oversold: $WTIC, DM, MMI, MSFT
Now trying to hold some rising trendline support: AQA.TO, BA, IDA, RJA
Attempting to hold the 65 DMA here: MMI, SLE, WDC
Attempting to hold the 28 day: A
Up against rising trendline resistance: AAPL, IP, TAN, UYG
Up against the 28 DMA here: MBI
Up against the 65 day: ABX, AEM, DGP, GDX, GLD
Moderately overbought now: AEM, GOOG, JASO, SLW, TSL, V, X, YGE
Standard overbought: CNK, IP, MMC, QCLN, RAIL, SPWRA, SU
Extremely overbought: NFLX
Toppy here: AGQ and ATI
A possible top here for: GE
Going parabolic: NCR and ROK
A break out in either direction is on the way for: ELN
Anything posted here may be off base.

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