Signals: Early Morning Update 9-20-2016.

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, September 20, 2016

Early Morning Update 9-20-2016.

DIS, GG, LEN, NUGT, QID, SPWR and UGLD are trying to bottom out in this area.
GFI, MTH and PHI are at the average oversold level.
EGPT, F, and IAU are moderately oversold.
GM and SHAK are up against falling trend line resistance,
MSFT and TSLA are up against the 65 day moving average.
NAT is up against the 28 day.
FB, INTC, QCOM, QLD and UGA are moderately overbought.
EROS, JDST, QCOM, QLD and SLW are setting up to break out in either direction.
Anything posted here may be off base, depending on market conditions.

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