Signals: T.A. update for the open, April 24, 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, April 24, 2009

T.A. update for the open, April 24, 2009.

Yi: +2.5
Trying to bottom out here: NEM
Standard oversold: PEP
Moderately oversold: GIS, NST, PEG
Attempting to hold the 28 DMA: $PLAT
Attempting to hold the 65 DMA: OCR
Trying to break above the 65 DMA: LDK and SPWRA
Moderately overbought now: B, CLF, CTB, MSCC, NWL, PLL, SWK, WHR, WSO
Standard overbought: F, SKS, STX, WY
Extremely overbought: PBY
Toppy here: $HGX, AAPL, GA, GOOG, IBM, JOSB, LPL, MTH, PTEN, ROK, WDC
Anything posted here may be off base.

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