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

Thursday, October 1, 2009

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

Yi: +4.1
Trying to bottom out: NAT, RJA, WFR
Moderately oversold now: ACH, AVAV, CBK, DELL, GA, GMR, PTR
Attempting to hold the 65 DMA here: BNI, FXI, NST, V
Attempting to hold the 28: DDM and NOK
Attempting to break above the 28: FSLR and LPL
Moderately overbought now: AVP, CHK, GG, PTEN
Standard overbought: TPX
Toppy here: BA, LUFK, OGE, TLB
A break out in either direction is on the way for: ARM and BAC
Anything posted here may be off base.

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