Signals: TA for the open of March 17, 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.

Thursday, March 17, 2011

TA for the open of March 17, 2011.

Yi: +6
A possible bottom here for: MMI
Trying to bottom out here: $USD , AVP, CLF, CREE
Standard oversold: $IIX, $NYA50R, $PLAT, DM
Moderately oversold: $DJW, AXP, BA, BMY
Attempting to hold the 65 DMA here: $GOLD, ATI, BPZ, EWI
Up against some falling trendline resistance here: CAT
Up against the 65 DMA here: BBT and FCX
Moderately overbought: CHK
Standard overbought: $VIX
A break out in either direction is on the way for: AA
Anything posted here may be off base.

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