Signals: Late Day Update 8-7-2015.

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.

Friday, August 7, 2015

Late Day Update 8-7-2015.

Yi: +2.3
A possible bottom for: $XAU, ABX, ACH, ASA, CEF, CHK, DBP, GFI, UGLD
Trying to bottom out here: $DJGSP, DIS, DM, NCR, PEGI, PMPX
Oversold: MTH and PTEN
Moderately oversold: BMY, GDDY, LEN, MED, TSLA
Trying to hold the 28 DMA here: $HGX
Trying to hold the 65 day: CAKE and V
Up against the 28 day: BLL, CLF, MOS, QID
Up against the 65 day: GG
Overbought: PEP, RJR, SEE
Moderately overbought: B, CTB, GT
Toppy here: DUST, MKC, NFLX, SPPIX
Anything posted here may be off base.

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