Signals: T.A. update for the open of Dec. 12, 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.

Friday, December 12, 2008

T.A. update for the open of Dec. 12, 2008.

Yi: -0.5
Trying to bottom out in this area: JASO, LDK, PBY
Moderately oversold now: PG
Trying to hold the 28 DMA here: PHI
Trying to hold the 65 DMA: $USD and LPL
Trying to break above the 28 DMA here: BPZ, CHK, CSIQ, XOP
Trying to break above the 65 DMA: AEM, EWJ, GTU, SLW, SSRI, UGP
Moderately overbought now: $XAU, ABX, EGO, GDX, GG, GLD, KGC, NEM, TOT
Toppy here: NAT and PTR
A break out in either direction is on the way for: BGF and TAN
Anything posted here may be off base.

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