Signals: T.A. update for the open, February 27, 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.

Friday, February 27, 2009

T.A. update for the open, February 27, 2009.

Yi: -4.5
Trying to bottom out in this area: ABX and AVP
Standard oversold now: FSLR and SYY
Moderately oversold now: $VIX, $XAU, CNK, KGC, SHI, UGA
Trying to hold the 28 DMA here: $VXO, GLD, SSRI
Trying to hold the 65 DMA: $XAU, ASA, CNK
Trying to break above the 28 DMA: $SOX, CAKE, CHK, EXP, GLW
Trying to break above the 65 DMA: $SOX, AEM, CAKE, CHK, EXP, SU, WFR
Moderately overbought now: $USD and FCX
A break out in either direction is on the way for: STX
Anything posted here may be off base.

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