Signals: T.A. update for the open, October 19, 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.

Monday, October 19, 2009

T.A. update for the open, October 19, 2009.

Yi: +4.5
Probable bottom here for: QID
Trying to bottom out in this area: ELN
Moderately oversold now: CSIQ, FUQI, NOK, TSM, WFR, YGE
Attempting to hold the 65 DMA here: DELL, IDA, MOT, TAN, WSO
Attempting to hold the 28 day: AEM, ASA, RGLD, SSRI, STX, TSL
Attempting to break above the 28 day: ROK
Attempting to break above the 65 day: KFT and NAT
Moderately overbought now: MKC
Standard overbought: FRO, PEP, PTEN, SYY, UGA, USB
Extremely overbought: SUN
Toppy here: $WTIC, EWA, FCX, TOT, XOP
Possible top here for: $DJX, V, VFC
Probable top here for: $OEX, $XOI, CLF, EWI, IYY
A break out in either direction is on the way for: BGF, BPOP, KO, TKR
Anything posted here may be off base.

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