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

Sunday, August 30, 2009

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

Yi: +4.5
Now attempting to bottom out: ACAS, TAN, WFR
Moderately oversold: OCR and PTEN
Attempting to hold the 65 day here: GLW, PG, TIE
Attempting to hold the 28 day: ARM and CAT
Attempting to break above the 65 day: NEM, NOK, PBY
Moderately overbought now: AEM, MBI, QCOM, STX
Standard overbought: C, TKR, USD, VFC, WDC
Extremely overbought: DELL and JOSB
Toppy here: B, IWM, SKS, SUN, WDC
Possible top here for: AXP, EWI, IRF
Probable top here for: CREE
A break out in either direction is on the way for: KO
Anything posted here may be off base.

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