Signals: TA for the open of March 28, 2012.

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, March 28, 2012

TA for the open of March 28, 2012.

Yi: +9.85
Now trying to bottom out: $VIX
Attempting to hold the 65 DMA here: $GOLD-weekly and CAT
Now up against some rising trendline resistance: $DJW, $GASO, A, BA, BMY
Up against the 28 day: AUG
Up against the 65 day: $GOLD
Up against some falling trendline resistance: $PLAT and ASA
Moderately overbought now: $DJX, AMAT, BBT
Standard overbought: $IIX and the $OEX
Extremely overbought now: $SPX and AXP
Toppy here: $IIX and $SPX
A break out in either direction is on the way for: $WTIC
Anything posted here may be off base, and there may be some more signals later.

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