Signals: Late Day Update August 18, 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, August 18, 2016

Late Day Update August 18, 2016.

Yi: +6.2
Trying to bottom out now: COH
Extremely oversold: BMY
Moderately oversold here: BGS, CLF, $USD
Trying to hold rising trend line support: BWA, $SILVER, $USD, $XAU
Attempting to hold the 65 DMA here: ASA
Attempting to hold the 28 DMA here: AEM, $DJGSP, GDX, IJH, MDY
Up against falling trend line resistance: $WTIC
Up against the 28 DMA here: GBTC
Moderately overbought now: FXF
Toppy here: C
A break out in either direction is on the way for: $GOLD, DBP, SGG
Anything posted here may be off base, depending on market conditions.

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