Signals: T.A. update for the open, August 11, 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.

Tuesday, August 11, 2009

T.A. update for the open, August 11, 2009.

Yi: +4.5
Moderately oversold now: AKNS, GIS, NAT, TOT, WFR
Attempting to hold the 65 day here: $XOI, GG, IFN, TAN
Attempting to hold the 28 day: $BDI-weekly, $XEU, BPZ
Attempting to break above the 28 day: $USD, AVAV, RJA
Moderately overbought now: JOSB, PAYX, RAIL, RX, SYY
Standard overbought: UGP and WHR
Toppy here: $OEX-weekly, ACF, C, CHK, GE, LEN, MTH, SHLD, TLB, WSO
Possible top here for: CAT
A break out in either direction is on the way for: NOK, PTEN, STX
Anything posted here may be off base.

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