Signals: Late Day Update July 13, 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.

Wednesday, July 13, 2016

Late Day Update July 13, 2016.

Yi: +5.4
Trying to hold the 28 day moving average here: ABX
Now up against falling trend line resistance: AVP, CMG, CTB
Up against the 65 day moving average: IYG and WFC
Up against the 28 day: BAC and NOV
Up against rising trend line resistance: SMH
Moderately overbought: ANF, ATI, AXP, C, CAT, EBAY, $FXT
At the average overbought level: B and BMY
Toppy here: ATI, CAKE, CAT, CLF, COH, CSL, CVY
A possible top is in place for: IJH, IJR, IWM, MDY, $NDX
Anything posted here may be off base depending on market conditions.

No comments:

Subscribe to: Post Comments (Atom)