Signals: T.A. update for the open, May 12, 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.

Monday, May 11, 2009

T.A. update for the open, May 12, 2009.

Yi: +4
Now trying to bottom out: $VIX
Standard oversold: $USD and IRF
Moderately oversold: $SOX, PBY, SHLD, SKS, USD
Attempting to hold the 10 DMA here: AAPL
Attempting to hold the 28 DMA: MSCC, NOK, NTES, SHI, STX
Attempting to hold the 65 DMA: ERIC, KO, MMC
Attempting to break above the 65 DMA here: BMY
Moderately overbought now: AVAV and MKC
Standard overbought: $XEU and CHK
Toppy here: $CRB, $OEX, KBE, LUFK, MBI, MOT, PEG, TIE, TOT
Possible top here for: DVY, GE, IYY
Probable top here for: CTB
A break out in either direction is on the way for: MTH
Anything posted here may be off base.

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