Signals: T.A. update for the open, February 24, 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.

Wednesday, February 24, 2010

T.A. update for the open, February 24, 2010.

Yi: +3.25
Moderately oversold: JASO, LDK, MOT, PTEN
Trying to hold some rising trendline support: $WTIC, IYY, SCHB, SCHG
Attempting to hold the 65 day: NTES
Attempting to hold the 28 day: OGE
Attempting to break above the 28 DMA here: FUQI
Trying to break above some falling trendline resistance: $VIX, AVAV, F
Attempting to break above the 65 day: MSCC
Moderately overbought now: BBT and COGO
Toppy here: PLL and SDTH
A break out in either direction is on the way for: ELY, PHI, WATG
Anything posted here may be off base.

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