Signals: Late Day Update 10-31-2016.

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, October 31, 2016

Late Day Update 10-31-2016.

Yi: +3.5
AU is possibly forming a bottom here.
$NYA50R is at the average oversold level.
$BDI, CIEN, $DJW and $FXT are moderately oversold.
CAR is attempting to hold the 28 DMA here.
$COPPER is up against falling trend line resistance.
AA and $PLAT are up against the 28 DMA here.
DF and HAS are moderately overbought
$UST30Y is at the average overbought level.
$FTSE, SMH and XLK are setting up to break out either up or down.
Anything posted may be off base.

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