Signals: T.A. update for the open, September 1, 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, September 1, 2010

T.A. update for the open, September 1, 2010.

Yi: +1.46
A possible bottom here for: ELN, MSFT, WFC
Trying to bottom out in this area: SEED
Extremely oversold: FUQI
Now moderately oversold: BGS and CNK
Trying to hold rising trendline support: RGLD
Trying to hold falling trendline support: AVAV and COGO
Up against falling trendline resistance: FSLR, IBM, NST, SU
Up against the 65 DMA here: ENER and WFR
Moderately overbought: GG and KGC
Toppy here: $XAU, ASA, GG
A possible top is in place for: ABX, GDX, SLW
Anything posted here may be off base.

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