Signals: Early Morning Update September 5, 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, September 5, 2016

Early Morning Update September 5, 2016.

FCX and HSNI are attempting to form a bottom in this area.
BMY, DIS, EROS, LOW, PEG, $PLAT and XON are trying to bottom out.
CAT, COST, DBC, OIL, PYPL, UGA, UGP, USO and $WTIC are moderately oversold.
NUS is attempting to hold the 65 day moving average.
EWI and NTES are up against falling trend line resistance.
WFM is setting up to break out in one direction or another.
Anything posted here may be off base, depending on market conditions.

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