Signals: T.A. update for the open, January 21, 2009.

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 21, 2009

T.A. update for the open, January 21, 2009.

Yi: -4.5
Trying to bottom out in this area: DELL
Exremely oversold here: MBI and V
Standard oversold: AVP, PTEN, TOT, TPX, WHR
Moderately oversold now: GPC, PHI, TSM
Trying to hold the 28 DMA: CREE, PGM, SHLD
Trying to hold the 65 DMA here: BGF, ELN, FXF, IRF, NAT
Trying to break above the 28 DMA: GG, HMY, NST
Trying to break above the 65 DMA: $VIX
Moderately overbought now: ABX, AEM, AVAV, KGC, NEM
Anything posted here may be off base.

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