Signals: T.A. update for the open, October 15, 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 15, 2009

T.A. update for the open, October 15, 2009.

Yi: +5
Possible bottom here for: $VIX and QCOM
Trying to bottom out in this area: RBS
Moderately oversold now: GA
Attempting to hold the 65 DMA here: ROK
Attempting to hold the 28 day: BPOP and PG
Attempting to break above the 65 day: SHI
Moderately overbought now: F, IFN, LEN, LOW, MTH, NOK, UGA, WY
Standard overbought: $CRB, $WTIC, ASA, GF, PTR, TOT
Extremely overbought: LUFK
Toppy here: CSL and WDC
Possible top here for: $XAU, GG, KGC, SUN
Probable top here for: $GOLD
Has gone parabolic: GOOG
A break out in either direction is on the way for: CTB
Anything posted here may be off base.

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