Signals: T.A. update for the open, September 9, 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 9, 2010

T.A. update for the open, September 9, 2010.

Yi: +3.5
Trying to bottom out here: QID
Attempting to hold the 65 DMA here: GG
Attempting to hold the 28 day: HOGS
Up against rising trendline resistance: CLF and IFN
Up against falling trendline resistance: $USD
Moderately overbought now: ACH, NOK, SUN, WATG, WOR, YGE
Standard overbought: ROK
Now up against the 28 day: STX and WHR
Up against the 65 DMA here: DELL
A bit toppy here: QCOM, QLD, WOR
A possible top in place for: AEM, SLV, SLW
A break out in either direction is on the way for: OGE
Anything posted here may be off base.

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