Signals: Early Morning Update July 21, 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, July 21, 2016

Early Morning Update July 21, 2016.

Trying to bottom out in this area: DUST, GDDY, JDST
Moderately oversold now: NFLX and OIL
Trying to hold rising trend line support: IAU
Attempting to hold the 65 DMA here: SYMC
Attempting to hold the 28 DMA here: DBP, DIS, P, S, SU
Up against rising trend line resistance: UUP
At the average overbought level: FB, GM, GOOG, MCD, MSFT
A bit toppy here: GE
A break out in either direction is on the way for: O
Anything posted here may be off base depending on market conditions.

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