Signals: T.A. update for the open, April 15, 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, April 15, 2009

T.A. update for the open, April 15, 2009.

Yi: +2.5
Possible bottom here for: QID
Trying to bottom out in this general area: $BDI weekly chart.
Moderately oversold now: $USD, TOT, XLU
Attempting to hold the 28 DMA here: MSCC, PG, TLB
Attempting to hold the 65 DMA here: $GOLD weekly chart.
Attempting to break above the 65 DMA: PLG, SLV, URE
Moderately overbought now: FSLR, MKC, X
Standard overbought: ACF, CHK, CTB, GA
Extremely overbought: $PLAT
Possible top here for: ACH
Toppy: CREE, ERIC, EWI, F, FXI, IYY, NOK, PBY, PTEN, SU, TSM, USD, WATG, XLF
Going parabolic: SHI
A break out in either direction is on the way for: $XAU and NAT
Anything posted here may be off base.

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