Signals: T.A. update for the open, June 5, 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.

Thursday, June 4, 2009

T.A. update for the open, June 5, 2009.

Yi: +5
Attempting to bottom out in this area: ACAS
Moderately oversold now: BPOP, FSLR, USB
Attempting to hold the 28 day moving average: AXP, FRO, KBE, LDK, RGLD, SHI
Attempting to hold the 65 day: SUN and TSM
Attempting to break above the 28 day: MMC
Moderately overbought now: CBK and MFE
Standard overbought: EEFT and PGM
Toppy here: TLB and WSO
Possible top here for: CNK
Has gone parabolic: GOOG and NTES
A break out in either direction is on the way for: BBT
Anything posted here may be off base.

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