Signals: Late Day Update 10-4-2016.

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.

Tuesday, October 4, 2016

Late Day Update 10-4-2016.

Yi: +4.6
PTM is at the average oversold level.
CAFE is trying to hold rising trend line support.
F and JJG are up against falling trend line resistance.
BMY is up against the 65 day.
AMCC, HD and MTH are up against the 28 day.
CMG, DBC, NFLX and OIL are moderately overbought.
$FTSE is at the average overbought level.
EWA and NUS are toppy here.
CAT, CTB, GLW, HPQ and SMH are posiibly forming a top here.
CVGRX, GE and $NYA50R are setting up to break out in either direction.
Anything posted may be off base.

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