Signals: Early Morning Update June 16, 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.

Thursday, June 16, 2016

Early Morning Update June 16, 2016.

Yi: +2.1
Trying to bottom out: MSI, PYPL, TSL
Moderately oversold: MET, NAT, QCOM, QVCA, TKR, WY
Attempting to hold the 65 day moving average here: NOK, NUS, STX, YYY
Attempting to hold the 28 day: MTH, NCR, P, PFF, SCHB, VOT, XLE
Up against the 65 day: UUP
Moderately overbought: SYMC
Toppy here: O
A possible top here for: T
A break out in either direction is on the way for: PEG
And of course as is always the case, anything posted here may be off base.

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