Signals: For the open of March 7, 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, March 7, 2013

For the open of March 7, 2013.

Yi: +8, +8.3, +9.25, +9.3, +9.6, +10, +10
A possible bottom here for: $GOLD, $XAU, ABX, AEM, AU, CDE, EGO
Trying to bottom out: $CRB, SILVER, CLFM FCX, GG, GLD, IAU, JCP
Extremely oversold: NUGT
Oversold: AAPL, CLF, DGP, DM, EGPT, FAZ, MM
Moderately oversold now: $VIX, $WTIC, AAUKY, DBC, DBO
Attempting to hold the 65 DMA here: ELY and HOGS
Now up against the 28 day: A and F
Up against the 65 day: BGS
Up against some falling trendline resistance: GDX and FXI
Moderately overbought now: $DJW, $HGX, $IIX, $XOI, ARMH, BA, CAKE, COST, DVY, EXP, INTC, IWM, KRFT, LOW, MMC, PG, QQQ
Overbought: $DJX, $OEX, $SPX, AXP, CREE, DDM, GIS, GOOG, GPC, HPQ, IDA, IP, IYY, JCP, MBI, MSI, PEP
Toppy here: GLS, GOOG, HPQ, IP, IYY, KRFT, MBI, MSI
A possible top here for: $USD, DUST, PEG
A break out in either direction is on the way for: NCR
Anything posted here may be off base.