Signals: TA for the open of March 18, 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, March 18, 2011

TA for the open of March 18, 2011.

Yi: +6.8
A probable bottom here for: ENER
A possible bottom here for: $PLAT, AEM, CSCO, HCBK, HOGS, NOK
Now trying to bottom out: $IIX, ABX, ELY, GOOG, MBI, PBY
Standard oversold: $DJW and ELY
Moderately oversold: AAPL, CAKE, PAYX, PEG, PG
Trying to hold some rising trend line support here: NAT and NTES
Attempting to hold the 28 DMA here: JCP
Now trying to hold some falling trend line support: $USD
Up against some falling trend line resistance: C, LEN, NCR
Up against the 65 DMA here: IWM
Extremely oversold: GMR
Anything posted here may be off base.

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