T.A. update for the open, January 8, 2009.

1. Yi: +0.5
2. Moderately oversold: NTES and WFC
3. Trying to hold the 28 DMA here: CBK, EWJ, FXI, GFI, GLD, GPC, KGC, LMT, LOW, MEOH, MMC, NEM, NOK, NST, PLL, PNRA, RGLD, ROK, SHI, TIE, UGA, URE, WSO, X
4. Trying to hold the 65 DMA: CBK, IYY, JASO, QCOM, QQQQ, TSM, VFC, WATG
5. Now trying to break above the 65 DMA: ACAS, SHLD, T
6. Now trying to break above the 28 DMA: ARM and GM
7. Moderately overbought now: $DJW, ACAS, BGF, CREE, PGM
8. Possible top here for: $NYA50R
9. Toppy here: EEFT and ERIC
10. Anything posted here may be off base.