Signals: T.A. update for the open, December 22, 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.

Monday, December 22, 2008

T.A. update for the open, December 22, 2008.

Yi: 0
Trying to bottom out in this area: $VIX, $WTIC, MBI, UGA
Trying to hold the 28 DMA here: GE, MEOH, PTEN, SU, URE, USD, WOR
Trying to hold the 65 DMA: TSM
Trying to break above the 28 DMA here: $GOLD Weekly, ARM
Trying to break above the 65 DMA: CBK, EWJ, GF, WSO
Moderately overbought now: COGO and OCR
Toppy here: BMY, MFE, NAT, PNRA
A break out in either direction is on the way for: DDM and PEG
Anything posted here may be off base.

No comments:

Subscribe to: Post Comments (Atom)