Signals: T.A. Update for Oct. 23, 2008.

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, October 23, 2008

T.A. Update for Oct. 23, 2008.

Yi: -3.5
Probable bottom here for: MEOH and STX
Trying to bottom out in this area: FXF
Extremely oversold now: AEM, ASA, CEF, CSL, DELL, GLD, GLW, HMY, PLL, PTR, SHI, SPC, TSM, URE, USD, WHR
Standard oversold: $GOLD and RGLD
Extremely overbought: $USD
Anything posted here may be off base.

Thursday, October 23, 2008

T.A. Update for Oct. 23, 2008.

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