Signals: T.A. update for the open, February 2, 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.

Monday, February 2, 2009

T.A. update for the open, February 2, 2009.

Yi: -3
Extremely oversold now: CAT and MEOH (meow!) lol
Standard oversold: ACAS and WHR
Moderately oversold: $XEU, T, TKR
Now trying to hold the 28 DMA: AVAV, KFT, MOT
Now trying to hold the 65 DMA: BMY, BPZ, CNK, QCOM, SHI
Now trying to break above the 28 DMA: SEED and STX
Now trying to break above the 65 DMA: NTES
Moderately overbought here: $USD, GTU, PGM, RGLD, UGA
Standard overbought: GLD, SLV, WDC, WGW
Toppy here: GFI, GOOG, HMY
Anything poisted here may be off base.

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