Signals: Early Morning Update for September 2, 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.

Friday, September 2, 2016

Early Morning Update for September 2, 2016.

CORN is forming a possible bottom here.
CWI, FCX, GG, HSNI, NUGT and XON are trying to bottom out in this area.
COH, GDX, JCP, M and PTEN are moderately oversold at this level.
JCP is trying to hold rising trend line support.
GPC, MAT, MSFT and TKR are attempting to hold the 28 day moving average.
WY is up against the 28 day moving average.
DB, DBP, DUST, EBAY, and INTC are moderately overbought at this level.
JPM is a bit toppy here
GE, GOOG and T are getting ready to break out either up or down.
Anything posted here may be off base, depending on market conditions.

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