Signals: T.A. update for the open, August 3, 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.

Sunday, August 2, 2009

T.A. update for the open, August 3, 2009.

Yi: +5, so the market is still pretty much overbought here.
Now trying to bottom out: RX
Moderately oversold at this level: OCR
TSL is trying to hold it's 28 day moving average here.
Moderately overbought at this level: $OEX-weekly, BBT, GE, MOT, TKR, TSM
Standard overbought: IDA, LOW, T, UYG
Extremely overbought: AVP and CTB
Toppy here: USD
Possible top in place for: AAPL and AMAT
A break out in either direction is on the way for: BGF
And anything posted here may be off base of course.

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