Signals: T.A. update for the open, March 9, 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, March 9, 2011

T.A. update for the open, March 9, 2011.

Yi: +9.55
A possible bottom here for: AKAM
Trying to bottom out in this area: CSIQ, DM, JASO, NOK
Moderately oversold now: $IIX, ELY, FSLR, GOOG, PG
Trying to hold some rising trendline support: ATI, BPZ, NFLX
Attempting to hold the 65 DMA here: FRO, SUN, WOR
Attempting to hold the 28 DMA here: CHK, NCR, XOP
Now trying to hold falling trendline support: AMSC
Up against falling trendline resistance: BBT, CBZ, F, LMT
Up against the 65 DMA here: EGPT
Moderately overbought: BA and FXI
Extremely overbought: OCR
Toppy here: $WTIC
Anything posted here may be off base.

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