Signals: Evening Update 10-28-2016.

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, October 28, 2016

Evening Update 10-28-2016.

AU, DYN, JCP and SHAK are attempting to bottom out in this area.
PHI is extremely oversold.
ATI, MTH, O and QVCA are at the average oversold level.
BGS, CTB, IP, TKR, VOT and Z are moderately oversold.
CNK is trying to hold rising trend line support.
FB is attempting to hold the 28 DMA here.
$VIX is up against falling trend line resistance.
AA is up against the 65 DMA here.
BMY, GG and SYY are up against the 28 day.
SU is at the average overbought level,
AIG and JPM are a bit toppy here.
BAC is possibly forming a top in this area.
EFV and FNDF are setting up to break out either up or down
Anything posted may be off base.

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