Signals: TA for the open of September 9, 2011.

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 8, 2011

TA for the open of September 9, 2011.

Yi: +2, +1.7
Trying to bottom out: WOR
Moderately oversold: PEP and QID
Attempting to hold the 28 DMA here: $PLAT and HOGS
Up against the 28 day: AKAM, ATI, AVP, BLL, EGPT, JCP, NCR, SLE, STX, XOP
Up against some falling trendline resistance: $IIX, B, DELL, EXP, QLD
Up against yjr 65 DMA here: $GASO, CREE, GOOG, IP, MBI, SNDK, SUN
Moderately overbought now: $USD, ARMH, PEG, UGA, V, VFC
Overbought: GG
Extremely overbought: ABX and NUGT
Anything posted here may be off base.

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