Signals: T.A. update for the open, September 17, 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 17, 2010

T.A. update for the open, September 17, 2010.

Yi: +4.45
Trying to bottom out here: GMR
Moderately oversold: CSL, EXP, HOGS
Now trying to hold some rising trendline support: $CRB, ACAS, LUFK, NTES
Attempting to hold the 65 DMA here: BPZ, HCBK, HOGS, LEN
Up against the 28 day: AXP
Up against some falling trendline resistance here: FRO and MSFT
Up against the 65 day: FRO
Standard overbought: FSLR, KGC, MOT
Moderately overbought: CBK, CBZ, CTB, F, LPL, MSCC, MSFT
A bit toppy here: FCX, JCP, LDK
A possible top here for: MBI, MEOH, NEM
A break out in either direction is on the way for: ARM, COGO, OCR
Anything posted here may be off base.

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