Signals: Evening Update August 29, 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, August 29, 2016

Evening Update August 29, 2016.

MCD, NAT, SLV, and SPWR are trying to bottom out in this area.
NAT is now extremely oversold.
PEG is moderately oversold.
MOS and NUS are trying to hold rising trend line support.
SCHB, SYY and UGP are attempting to hold the 28 day moving average.
MET is up against falling trend line resistance.
MET and P are moderately overbought.
NOK is getting ready to break out either up or down.
Anything posted here may be off base, depending on market conditions.

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