Signals: Late Day Update September 8, 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 8, 2016

Late Day Update September 8, 2016.

Yi: +5.2
AVAV and DIS are attempting to bottom out.
DB is trying to hold rising trend line support.
CVGRX and SOYB are up against falling trend line resistance.
$PLAT and $XAU are up against the 65 day moving average.
AEM, JJG, JJN and $NYA50R are up against the 28 day moving average.
CVY is up against rising trend line resistance.
CMG, CWI, FNDF, GBTC, $GOLD and GM are moderately overbought at this level.
BWA, CAFE, EVF, FB and IWM are a bit toppy here.
SGG 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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