Signals: T.A. update for the open, May 27, 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.

Wednesday, May 27, 2009

T.A. update for the open, May 27, 2009.

Yi: +4
Attempting to bottom out in this area: $USD, AVAV, RAIL
Moderately oversold now: AA, AKNS, CAT, CHK, ENER, LDK
Attempting to hold the 28 day moving average: ACH, AXP, CAT
Attempting to hold the 65 day moving average: BBT, BMY, GA, LPL
Attempting to break above the 28 day moving average: GTU
Attempting to break above the 65 day: T and VFC
Moderately overbought now: $BDI weekly, and the $GOLD weekly charts, PBY, TLB
Toppy here: $GOLD, $XAU, AEM, ASA, GG, KO, STX
Has gone parabolic: TSL
A break out in either direction is on the way for: C, EEFT, RBS
Anything posted here may be off base.

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