Signals: T.A. update for the open, April 7, 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.

Tuesday, April 7, 2009

T.A. update for the open, April 7, 2009.

Yi: +2
Trying to bottom out: QID
Standard oversold: HMY
Moderately oversold: ABX, AEM, GDX, KGC, PLG, RGLD, TOT
Attempting to hold the 28 day moving average: BMY, NAT, SLW, SSRI, WGW
Attempting to hold the 65 DMA: EGO, EWJ, GG
Attempting to break above the 65 day moving average: NWL and URE
Moderately overbought: $CRB, CHK, IRF, TAN
Standard overbought: $IIX
Possible top here for: CREE and NTES
Toppy here: $IIX, $SOX, AAPL, ACH, AMAT, EXP, F, GA, LPL, MFE, PBY, PNRA, UGP
A break out in either direction is on the way for: FSLR
More later. Anything posted here may be off base.

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