Signals: T.A. update for the open, September 14, 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, September 14, 2010

T.A. update for the open, September 14, 2010.

Yi: +4.27
Now trying to bottom out: CREE
Moderately oversold: AVAV
Trying to hold some rising trendline support: $PLAT and HOGS
Attempting to hold the 28 DMA here: MMC
Now up against rising trendline resistance: LDK
Now up against some falling trendline resistance: NTES and SYY
Up against the 65 DMA here: $GASO, BAC, IP, SPWRA, UGA
Moderately overbought now: $WTIC, ELY, FXI, GPC, IBM, IWM, IYY, KBE, SU
Standard overbought: EWA, EWJ, IFN, KO, TKR, UGP
A bit toppy here: GE and PEP
A possible top here for: FCX, KO, LUFK, PTEN
A breakout in either direction is on the way for: NM, PAYX, SDTH
Anything posted here may be off base.

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