Signals: T.A. update for the open, August 27, 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, August 27, 2009

T.A. update for the open, August 27, 2009.

Yi: +4.75
Probable bottom here for: ENER
Now trying to bottom out in this area: YGE
Moderately oversold: AMAT, HCBK, WATG, WFR
Attempting to hold the 65 day: CLF, CPSL, KO, LUFK, NM, RJI, SU
Attempting to hold the 28 day: $PLAT, $WTIC, AA, ACF, IBM, PGM, UGA
Attempting to break above the 28 day: LOW
Moderately overbought now: EEFT and TLB
Standard overbought: RBS
Toppy here: BA, BMY, CSL, DELL, EWJ, WSO
A break out is on the way for: $GOLD, $GOLD weekly, GLD, TPX
Anything posted here may be off base.

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