Signals: T.A. update for the open, September 10, 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.

Friday, September 10, 2010

T.A. update for the open, September 10, 2010.

Yi: +3.39
Extremely oversold: CREE
Moderately oversold: GG
Now trying to hold some rising trendline support: CLF
Attempting to hold the 65 DMA here: ABX and KGC
Trying to hold falling trendline support: AVAV
Up against the 28 day: GOOG
Now up against some falling trendline resistance: $NYA50R
Up against the 65 day here: B and GOOG
Moderately overbought: AA, AAPL, AMSC, AVP, ENER, GE, MOT
Standard overbought: MEOH and MKC
A bit toppy here: $CRB, $GOLD-weekly, AA, CAT, MKC
A possible top here for: $GOLD and $IIX
A break out in either direction is on the way for: CBZ, LOW, MMC
Anything posted here may be off base.

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