Signals: TA for the open of April 20, 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, April 20, 2011

TA for the open of April 20, 2011.

Yi: +8.25
A possible bottom here for: CSCO, DZZ, FSLR
Now trying to bottom out: AVAV, BAC, DM, FRO, GOOG, HIT, JASO
Attempting to hold the 65 DMA here: $DJW and IDA
Attempting to hold the 28 day: $IIX
Up against rising trend line resistance: DDM and EGO
Up against some falling trend line resistance here: CLF
Now up against the 65 day: AKAM and FUQI
A bit toppy here: GLD
Moderately overbought: CAKE
A possible top here for: $GOLD
Anything posted here may be off base.

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