Signals: T.A. update for the open, October 2, 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.

Friday, October 2, 2009

T.A. update for the open, October 2, 2009.

Yi: +2.5
Trying to bottom out in this area: $BDI-weekly
Moderately oversold now: BNI and WOR
Attempting to hold the 65 DMA here: COGO, MEOH, WSO, X
Attempting to hold the 28 day: NWL and STX
Attempting to break above the 28 day: $GASO, $WTIC, RJI, UGA
Moderately overbought now: KO and PHI
Standard overbought: EXP
Possible top here for: $DJW-weekly
A break out in either direction is on the way for: IFN, IRF, KFT
Anything posted here may be off base.

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