Signals: T.A. update for the open, September 30, 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.

Thursday, September 30, 2010

T.A. update for the open, September 30, 2010.

Yi: +5.51
Trying to hold some rising trendline support here: F
Attempting to hold the 28 DMA here: BLL
Up against rising trendline resistance: CBK and FXI
Up against the 28 DMA here: CBZ
Up against some falling trendline resistance: B, BPZ, DELL, ELY
Up against the 65 day: EXP, FUQI, HPQ
Moderately overbought: AMAT, CHK, CLF, DELL, GLW, HOGS, HPQ
Standard overbought: ACH
Toppy here: AVP, COST, EEFT, EWA
A possible top here for: FSLR, GLD, IBM
A break out in either direction is on the way for: BGS and IFN
Anything posted here may be off base.

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