Signals: Late Day Update July 11, 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 11, 2016

Late Day Update July 11, 2016.

Yi: +4.7
At the average oversold level: $VIX
Moderately oversold: $CRB, $GASO, $WTIC
Attempting to hold the 65 DMA here: $COPPER
Up against falling trend line resistance: BA, C, CMG, IYG
Up against the 65 DMA here: $DJW, JJG, NOV
Up against the 28 day: IYG
Up against rising trend line resistance: DRI
Moderately overbought: ANF, B, BMY, CAT, COH, HD, IJH, IYG, NIB, SMH
Toppy here: AGQ and $PLAT
A possible top here for: DF
Anything posted here may be off base.

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