Signals: Evening Update August 16, 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.

Tuesday, August 16, 2016

Evening Update August 16, 2016.

Extremely oversold now: QID
Attempting to hold the 28 DMA here: RGLD
Moderately overbought: NTES, OIL, SYMC, XLE
At the average overbought level: MED
Toppy here: SCHB
A possible top may be in place for: GLW, QLD, PG
Anything posted here may be a million miles off base, depending on market conditions.

Tuesday, August 16, 2016

Evening Update August 16, 2016.

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