Signals: Late Day Update August 25, 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 25, 2016

Late Day Update August 25, 2016.

Yi: +5.7
AGQ is now trying to bottom out.
ABX and AU are at the average oversold level.
AEM, ASA, CEF, CLF, DBP, $DJGSP, $XAU are now moderately oversold.
BGS and CVS are trying to hold rising trend line support.
AAPL and PTM are attempting to hold the 65 DMA here.
AXP, BA, $FTSE, and JJN are attempting to hold the 28 DMA.
UNG is up against rising trend line resistance.
SMH is a bit toppy here.
Anything posted here may be off base depending on market conditions.

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