Signals: T.A. update for the open, September 1, 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, September 1, 2009

T.A. update for the open, September 1, 2009.

Yi: +4
Probable bottom here for: QID
Attempting to bottom out in this area: OCR
Standard oversold now: COGO
Moderately oversold: CLF and FXI
Attempting to hold the 65 day: PEP and PGM
Attempting to hold the 28 day: AVP, BMY, GE, IWM, QQQQ, T, TLB, UGA, WFC
Attempting to break above the 65 day: $VIX and MKC
Moderately overbought now: BPOP, NOK, SLV
Standard overbought: MBI and MEOH
Toppy here: $HGX, $OEX-weekly, AVP, MEOH, SYY, URE, WHR, XLF
A break out is on the way for: CTB, X, YGE
Anything posted here may be off base.

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