Signals: T.A. update for the open, February 23, 2010.

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.

Tuesday, February 23, 2010

T.A. update for the open, February 23, 2010.

Yi: +3.9
A possible bottom here for: ENER
Trying to bottom out: $VIX and QID
Moderately oversold now: CSIQ, DELL, FSLR
Trying to hold some rising trendline support: LPL
Attempting to break above the 28 DMA here: GOOG
Now trying to break above some falling trendline resistance: $BDI and MSCC
Attempting to break above the 65 day: $NYA50R, BMY, NST, RJI
Moderately overbought now: $CRB, $WTIC, ACAS, CSCO, DVY, FCX, IWM, UGA
Overbought: IDA and PLL
Toppy here: A, CAT, CHK, CLF, GIS, IDA, IWM, PBY, PG, VFC, WHR, WSO
A possible top here for: CREE
A break out in either direction is on the way for: MBI
Anything posted here may be off base.

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