Signals: T.A. update for the open, March 3, 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 3, 2011

T.A. update for the open, March 3, 2011.

Yi: +8.35
Now trying to bottom out: ARM, PBY, STX, ZSL
Extremely oversold: ENER
Standard oversold: DZZ, HCBK, PBY
Moderately oversold: ACH, MBI, X
Now trying to hold some rising trendline support: $DJX, ELY, JASO, KFT
Attempting to hold the 65 DMA here: $HGX, BBT, CSIQ, IDA, PBW, PEG, QCLN, USB
Attempting to hold the 28 day: CAT and JCP
Now trying to hold falling trendline support: ACH, AMSC, C
Moderately overbought: $XAU and RJZ
Extremely overbought: AGQ
Toppy here: OCR, RJI, UGA
A possible top here for: GLD, SLV, SLW
Anything posted here may be off base.

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