Signals: Late Day Update August 3, 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.

Wednesday, August 3, 2016

Late Day Update August 3, 2016.

Yi: +5.4
A possible bottom forming here for : WEAT
Trying to bottom out in this area: CORN, DBC, DIS, DYN, JJG, $XOI
Moderately oversold: CMG
Trying to hold rising trend line support: CAT
Attempting to hold the 65 DMA here: AXP and BAC
Attempting to hold the 28 DMA here: AA, ANF, C, CVY, IYG, WFC
Moderately overbought: ABX, AIG, AVP, CEF, CVS, DB, DBP
Toppy here: AEM, AGQ, CVGRX, $DJGSP, GLDI, PTM, $XAU
A possible top is forming here for: ASA and AU
Anything posted here may be off base.

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