Signals: Late Day 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

Late Day Update August 29, 2016.

Yi: +5.7
CLF, $COPPER, DF, FCX, HSNI, and $SILVER are trying to bottom out.
CORN, JJG, and WEAT are now at the average oversold level.
COH, COST, FXF, $GOLD, IDA, $PLAT, and $SILVER are moderately oversold now.
DBC and EWI are trying to hold rising trend line support.
GLDI and EFV are attempting to hold the 65 DMA here.
$DJW, CWI, FEU, GF and WEAT are attempting to hold the 28 DMA.
CEF is up against falling trend line resistance.
$BDI and UNG are moderately overbought.
C and IP are a bit toppy here.
CSL 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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