Signals: T.A. update for the open, July 31, 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 31, 2009

T.A. update for the open, July 31, 2009.

Yi: +5
Now trying to bottom out: GDX and HMY
Moderately oversold here: $XAU, GLD, RGLD, SLV, WOR
Attempting to hold the 65 day: $GOLD, $WTIC, ASA, SU, TOT
Trying to hold the 28 day: $USD, SLW, SSRI, WFR
Attempting to break above the 65 day: BA
Moderately overbought now: $DJW weekly, CNK, MMC, PAYX, PG, SYY, TLB
Standard overbought at this point: AMAT, PHI, SKS
Toppy here: AMAT, CREE, CSL, DELL, GPC, KFT, QQQQ, SDTH, SKS
Possible top in place for: EEFT and ROK
A break out in either direction is on the way for: NOK
Anything posted here may be off base.

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