Signals: T.A. update for the open, September 29, 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 29, 2010

T.A. update for the open, September 29, 2010.

Yi: +5.65
A possible bottom here for: QID
Standard oversold: SLE
Moderately oversold: USB
Now trying to hold some rising trendline support: F, RBS, URE
Attempting to hold the 65 DMA here: WSO and XLF
Up against rising trendline resistance: IBM, JOSB, KO, NWL
Up against falling trendline resistance: $WTIC, SU, UGA, X
Up against the 65 DMA here: BA, CSCO, LMT
Moderately overbought now: ARM, DVY, LMT, NST, PEG, PX, SCHG, TLB, TOT, USB
Standard overbought: FSLR, GF, MSCC, QLD, VFC
Extremely overbought: SLV
Toppy here: ARM, CAT, FCX, QLD, QQQQ, T
A possible top here for: $CRB
A probable top here for: $GOLD, $IIX, $PLAT
A break out in either direction is on the way for: HCBK, LPL, MSFT, UYG
Anything posted here may be off base.

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