T.A. update for the open, May 11, 2009.

1. Yi: +5 (And so, the market is very overbought now, and the probabilty of some type of correction or even the resumption of the bear market is increasing.)
2. Moderately oversold now: ENER
3. Attempting to hold the 28 day moving average: $HGX, $SOX, AMAT, CREE, DELL, HCBK, IBM, JOSB, MMC, QCOM
4. Attempting to break above the 65 DMA here: AVAV
5. Moderately overbought now: $IIX weekly, RGLD, XLU
6. Standard overbought now: ASA, OGE, PEG, RJA, WFC
7. Extremely overbought: ACH, PTR, XOP
8. Toppy here: BAC, CNK, UYG
9. Possible top here for: FXI and UGA
10. Going parabolic: CTB
11. Anything posted here may be off base.