Signals: T.A. update for September 24, 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, September 24, 2009

T.A. update for September 24, 2009.

Yi: +4.5
Probable bottom here for the $VIX.
Moderately oversold now: RJI
Attempting to hold the 65 day: $WTIC, SHI, SUN
Attempting to hold the 28 day: $HGX and USB
Attempting to break above the 28 day: F
Moderately overbought: AVP, COGO, FRP, PHI, T
Standard overbought: $SOX, BPZ, GIS, MBI, RAIL
Extremely overbought: PAYX
Toppy here: CSIQ and JASO
Possible top here for: $IIX and PLL
Probable top here for: $OEX, $SPX, $XEU, CLF, CTB, DDM, GF, PBW, QQQQ
A break out in either direction is on the way for: MMC and ROK
Anything posted here may be off base.

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