Signals: T.A. update for the open, December 11, 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, December 11, 2009

T.A. update for the open, December 11, 2009.

Yi: +4.25
Trying to bottom out in this area: $WTIC, $XOI, NTES
Average oversold here: WFC
Now moderately oversold: $GASO, C, GMR, JOSB, NYES, UGA
Attempting to hold the 65 DMA here: $CRB and LMT
Trying to hold rising trendline support: $VIX and MBI
Attempting to hold the 38 day: $PLAT
Trying to hold falling trendline support: QID
Attempting to break above the 28 day: AAPL and SUN
Attempting to break above the 65 day: ENER
Trying to break above falling trendline resistance: AA, CTB, MFE, QLD, QQQQ
Up against rising trendline resistance: $SOX, BGS, COGO, IBM, MEOH, QCOM, SWK
A possible top here for: $SOX
A break out in either direction is on the way for: KFT, UGP, UYG
Anything posted here may be off base.

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