Signals: Late Day Update June 7, 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.

Tuesday, June 7, 2016

Late Day Update June 7, 2016.

Yi: +3.7
A possible bottom here for ANF and CVS
Moderately oversold: CNK, HD, $USD, $UST30Y
Attempting to hold the 65 DMA here: GOOG and LOW
Attempting to hold the 28 day: DF
Up against the 65 day: $GOLD
Up against the 28 sday: AA, $COPPER, SBUX
Moderately overbought: ARMH, AVP, B, IYJ, JNUG, NOV
Average overbought: IWM
A bit toppy here: BMY, CLF, JNJ
Going parabolic: CORN, $CRB, DBC
And as is always the case of course, anything posted here may be off base.

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