Signals: Late day update for January 17, 2013.

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, January 17, 2013

Late day update for January 17, 2013.

Yi: +7.7, +7, +8.3, +9.6, +9.4, +9.9, +9, +9.4, +9.5, +10, +10, +9.9. +10, +10
Now trying to bottom out: $GOLD, AGQ, AAPL
Oversold: $VIX
Moderately oversold: PEG and VZ
Trying to hold some rising trendline support here: FXI
Attempting to hold the 65 DMA: CLF, MMC, UGA
Attempting to hold the 28 day: AA, EGPT, FCX, NFLX, VOX, WSO, X
Up against the 28 day: $SILVER, AGQ, CORN, DGP
Up against the 65 day: RJA
Moderately overbought: PHI
Overbought: $NYA50R-weekly, $PLAT, WDC
Extremely overbought: $NYA50R
Toppy here: $DJW, $DJX, IIX, $SPX, BGS, DDM, EEFT, EFV, EWI, WDC
A possible top here for: ACAS
A break out in either direction is on the way for: ABX and MED
Anything posted here may be off base.

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