Signals: Late Night Update August 9, 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 9, 2016

Late Night Update August 9, 2016.

Trying to bottom out now: BMY and $VIX
At the average oversold level: QVCA
Moderately oversold: FXF and VOX
Now trying to hold rising trend line support: IAU
Attempting to hold the 28 DMA here: $GOLD and PEP
Up against falling trend line resistance: AVAV, NCR, SCHB
Moderately overbought now: CSCO, FXI, $FXT, JPM, SHAK, TKR
At the average overbought level: MSI and NUS
Toppy here: AXP, GLW, MSFT, MSI
A possible top may be forming here for: AIG and EROS
A break out in either direction is on the way for: LOW and TSLA
Anything posted here may be off base, depending on market conditions.

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