Signals: T.A. update for the open, January 29, 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.

Thursday, January 29, 2009

T.A. update for the open, January 29, 2009.

Yi: -0.5
Possible bottom here for: ARM
Trying to bottom out in this area: NAT
Moderately oversold: $VIX, $VXO, SPWRA
Trying to hold the 28 DMA here: AEM
Trying to hold the 65 DMA: $USD, AMAT, ENER
Trying to break above the 28 DMA: $SPX, AXB, AXP, CBK, EWJ, IWM, IYY, PBW, TLB
Trying to break above the 65 DMA here: DELL, FXI, KO, OGE, WFR
Moderately overbought now: $SOX, AAPL, CSCO, IFN, MKC, OCR, TSM
Standard overbought: COGO
Anything posted here may be off base.

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