Signals: T.A. update for the open, April 16, 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, April 16, 2009

T.A. update for the open, April 16, 2009.

Yi: +3
Trying to bottom out in this area: CBK, KFT, MKC
Moderately oversold now: $XOI, BMY, GIS, IDA, MCD, PEG, SYY, WFR, WGW
Attempting to hold the 28 day moving average: STX and T
Attempting to hold the 65 day moving average: B and GFI
Attempting to break above the 65 day moving average: NM and SPWRA
Moderately overbought now: BNI and JASO
Standard overbought: WATG
Toppy here: CHK, FSLR, GA, IFN, TSL
Going parabolic: ACH
A break out in either direction is on the way for: $CRB, AEM, EGO, GG, NEM, SUN
Anything posted here may be off base.

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