Signals: Late Day Update July 28, 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 28, 2016

Late Day Update July 28, 2016.

Yi: +5.7
Trying to bottom out here: DRI and CVS
Moderately oversold: BGS, CSL, DYN
Trying to hold rising trend line support: $COPPER
Attempting to hold the 65 DMA here: CNK, EROS, TWTR
Attempting to hold the 28: CIEN
Moderately overbought: AAPL, CTB, PTM
At the average overbought level: FB
Toppy here: ABF, ATI, BAC, CAT, CLF
A possible top may be in place for: CREE, EBAY, SMH
A break out in either direction is on the way for: AVP
Anything posted here may be off base depending on market conditions.

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