Signals: Weekend Update for May 23, 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.

Saturday, May 21, 2016

Weekend Update for May 23, 2016.

Yi: -0.1
A possible bottom here for: QCLN and SHLD
Trying to bottom out now: ATI, AVP, DM, FXF, $FXT, I, LEN
Extremely oversold: SPWR
At the average oversold level: GT
Moderately oversold: ASA, BA, $DJW, $NYA50R, $PLAT, PYPL, SIVR, SLV, WY
Attempting to hold the 65 day moving average here: DYN
Attempting to hold the 28 day: $XAU
Up against the 65 day: RAIL and STX
Moderately overbought now: DRI
At the average overbought level: LOW
A bit toppy here: $GASO
A break out in either direction is in the cards for: CNK
Anything posted here may be off base of course, depending on market conditions.

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