Signals: T.A. update for the open, May 29, 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, May 29, 2009

T.A. update for the open, May 29, 2009.

Yi: +3.5
Standard oversold at this level: COGO and MMC
Moderately oversold now: BMY, GA, GIS, ROK
Attempting to hold the 28 day: PG and WFC
Attempting to hold the 65 day: $HGX, GIS, MKC, PEP
Attempting to break above the 28 day: AMAT and HCBK
Moderately overbought now: FRO, FXI, PBW, QQQQ, SYY, TSM, USD, X
Standard overbought: GLD and LUFK
Extremely overbought: IFN, SLV, SU, TSL
Toppy here: BGF, JASO, WDC
Has gone parabolic: ASA, SU, WGW
A break out in either direction is on the way for: NWL, URE, V, WATG, WY, XLF
Anything posted here may be off base.

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