Signals: TA for the open of January 9, 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.

Monday, January 9, 2012

TA for the open of January 9, 2012.

Yi: +4.15, +4
Now trying to bottom out: $VIX and EGPT
Standard oversold: $BDI
Moderately oversold: COST and EWI
Trying to hold some rising trendline support: $GASO and ELN
Attempting to hold the 65 DMA here: $GOLD-weekly and FXI
Attempting to hold the 28 day: EWJ
Now up against some falling trendline resistance: $NYA50R-weekly and DELL
Moderately overbought: $IIX, C, CAT, CSCO, F
Standard overbought: BLL and CTB
Extremely overbought: $HGX, AAPL, EXP
Toppy here: CSL
A break out in either direction is on the way for: AEM, AGQ, B
Anything posted here may be off base, and there may be some more signals later.

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