Signals: T.A. update for the open, July 24, 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, July 24, 2009

T.A. update for the open, July 24, 2009.

Yi: +5
Possible bottom here for: $USD
Trying to bottom out in this area: BPOP
Extremely oversold now: $VIX
Moderately oversold: TIE
Attempting to hold the 65 day moving average: MSCC and TLB
Attempting to hold the 28 day: AVAV, KO, XLF
Attempting to break above the 65 day: SLV
Moderately overbought now: DELL, NST, SDTH, USB, VFC
Standard overbought now: EXP, F, LEN, MTH, SHI, STX
Possible top here for: NTES and SHI
Anything posted here may be off base.

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