Signals: Late Day Update for May 9, 2016.

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.

Monday, May 9, 2016

Late Day Update for May 9, 2016.

Yi: +0.3
A possible bottom here for: ANF, CREE, CTB, XON
Now attempting to bottom out: AAPL, COST, EBAY, JCP, LEN, LPL, M, MTH, SEE
Extremely oversold: RAIL
Average oversold: NOK, PHI, SHLD
Moderately oversold: $COPPER, MSI, NCR, ORCL, SHAK
Now attempting to hold the 65 DMA: $CRB, NEM, SIVR, SLV
Now attempting to hold the 28 DMA: UGP
Now up against the 65 DMA: CAR
Moderately overbought: DIS and PEP
Average overbought: SYY
Toppy here: DYN
Anything posted here may be off base.

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