Signals: T.A. update for the open, June 8, 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, June 8, 2009

T.A. update for the open, June 8, 2009.

Yi: +4.5
Now trying to bottom out in this area: BPOP
Moderately oversold at this level: EXP, GFI, GTU, SKS, SUN
Attempting to break above the 65 day moving average: $BDI weekly chart.
Moderately overbought now: BGF, URE, V
Standard overbought: AA, GA, QCOM, TAN, TKR
Extremely overbought: BA, IFN, PPW, YGE
Toppy here: $OEX, EEFT, F, FXI, GA, PTR, SEED, SHLD, WATG
Possible top here for: IWM, KFT, WGW
Probable top here for: GOOG and TSL
Has gone parabolic: ELN
A break out in either direction is on the way for: ACAS and CTB
Anything posted here may be off base.

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