Signals: Late Day Update August 18, 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.

Tuesday, August 18, 2015

Late Day Update August 18, 2015.

Yi: +3.5
A possible bottom here for: CHK
Extremely oversold: DBO
Oversold: NTES
Moderately oversold: DB, EFV, KING
Trying to hold the 28 DMA here: ASA and EWI
Trying to hold the 65 day: $BDI
Up against the 28 day: $BPSPX, C, CDE, CVY, DM, GE
Up against the 65 day: $NDX, AU, BAC, CNK
Moderately overbought: CLF, CREE, CSL, DVY, JWN, MCD
Overbought: $HGX, GT, LOW, MSI
Toppy here: B, CTB, IDA
Going parabolic: COST
A break out in either direction is on the way for: INTC
Anything posted here may be off base.

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