Signals: T.A. update for the open, October 14, 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.

Wednesday, October 14, 2009

T.A. update for the open, October 14, 2009.

Yi: +4.5
Possible bottom here for: OCR and QID
Attempting to break above the 28 DMA: $HGX
Attempting to break above the 65 day: $GASO and CAKE
Moderately overbought now: RJA, SHLD, TOT, WHR, XLF, XLU
Standard overbought: IBM, SU, SUN
Toppy here: $OEX, $XOI, ACF, CREE, IBM, MSCC, SPWRA, SU, SUN
Possible top here for: IWM, IYY, MFE
A break out in either direction is on the way for: GE, HCBK, JOSB, KFT
Anything posted here may be off base.

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