Signals: TA for the open of January 4, 2012.

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, January 4, 2012

TA for the open of January 4, 2012.

Yi: +3.35, +3.1, +3.95
Trying to bottom out in this area: $PLAT
Moderately oversold: AVAV
Trying to hold the 65 DMA here: DPS and DUST
Up against rising trendline resistance: CSL and EGPT
Up against the 28 DMA here: AEM, ASA, AUQ, CHK
Up against falling trendline resistance: A, AA, AGQ
Up against the 65 DMA here: ABX, AU, C
Moderately overbought: $SPX, $XOI, AAPL, ARMH, ATI, BLL, CTB, DDM, EEFT
Standard overbought: $HGX
Toppy here: BBT and BGS
A possible top here for: AKAM, BA, CAKE, DVY, ELN
A probable top here for: BMY
Anything posted here may be off base, and there may be more signals later.

No comments:

Subscribe to: Post Comments (Atom)