Signals: Evening Update July 18, 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, July 18, 2016

Evening Update July 18, 2016.

Moderately oversold: XON
Now attempting to hold rising trend line support: GG
Attempting to hold the 28 DMA here: MMC
Moderately overbought: JPM and NFLX
At the average overbought level: IP
Toppy here: JNJ, NUS, ORCL, WOR
A possible top is in place for: QVCA and VOX
And as of course as is always the case, anything posted on this page may be off base depending on market conditions.

Monday, July 18, 2016

Evening Update July 18, 2016.

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