Signals: T.A. update for the open, October 22, 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 22, 2009

T.A. update for the open, October 22, 2009.

Yi: +3.7
Probable bottom here for: $VIX
Moderately oversold now: CPSL, GE, MTH
Attempting to hold the 65 DMA here: ACF, C, SKS
Attempting to hold the 28 day: AA, ACAS, B, BPZ
Moderately overbought now: PG
Standard overbought: RX and SWK
Extremely overbought: AAPL
Toppy here: $XOI, TOT, WATG, WY
Possible top here for: MKC
Has gone parabolic: CREE
A break out in either direction is on the way for: ACH, ARM, HCBK, NM
Anything posted here may be off base.

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