Signals: T.A. update for the open, July 2, 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, July 2, 2009

T.A. update for the open, July 2, 2009.

Yi: +4
Now trying to bottom out: ENER and RJA
Moderately oversold: HMY
Attempting to hold the 28 day: $WTIC, AKNS, FRO, MEOH, V
Attempting to hold the 65 day: $PLAT, AXP, BBT, CEF, HMY, SLV, TKR
Attempting to break above the 28 day: ASA, FCX, JOSB, LUFK
Attempting to break above the 65 day: AMAT, CLF, CSCO, IBM, OCR
Moderately overbought: JOSB and USD
Standard overbought: CNK
Toppy here: MOT
A break out is on the way for: AA, GTU, KBE
Anything posted here may be off base.

No comments:

Subscribe to: Post Comments (Atom)