Signals: T.A. update for the open, June 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.

Friday, June 12, 2009

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

Yi: +4.5
Moderately oversold at this level: B, COGO, and JOSB
Attempting to hold the 28 day moving average: CAT, F, GG, UYG
Attempting to hold the 65 day: $HGX and MTH
Attempting to break above the 28 day: BPOP
Moderately overbought at this level: CEF, CPSL, EWJ
Standard overbought: $XOI, CHK, FXI, PHI
Extremely overbought: AA, AAPL, ACH, CSL, DELL, MEOH, MSCC, WATG
Toppy here: AKNS, ARM, EWA, FRO, GIS, LDK, MSCC, PBE, TAN, USD
Possible top in place for: PBY
Has gone parabolic: $WTIC, CSL, UGA, X
A break out in either direction is on the way for: AVP, GE, GPC, IYY
Anything posted here may be off base.

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