Signals: Late Day Update for September 1, 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.

Thursday, September 1, 2016

Late Day Update for September 1, 2016.

Yi: +5.2
ABX, AEM, ASA, AU, DBA and $DJGSP are trying to bottom out in this area.
AVAV is at the average oversold level.
BA, GLDI and PTM are moderately oversold.
$FXT is attempting to hold the 65 day moving average.
AAPL, IYJ, $NDX, and XLK are attempting to hold the 28 day moving average.
$USD is moderately overbought.
AIG and WFC are a bit toppy here.
IYG is forming a possible top here.
Anything posted here may be off base, depending on market conditions.

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