Signals: Late Day Update August 23, 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 23, 2016

Late Day Update August 23, 2016.

Yi: +6.2
HSNI, NAT, and $USD are trying to bottom out.
ABX, AU, GG, $SILVER are moderately oversold.
AGQ, EGPT, JCP, NIB are attempting to hold the 65 DMA here.
NEM and TWTR are trying to hold the 25 DMA here.
MMC is now up against falling trend line resistance.
MKC is up against the 28 DMA here.
CANE is up against rising trend line resistance.
IAU is preparing to break out in either direction.
Anything posted here may be off base depending on market conditions.

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