Signals: Early Morning Update 11-2-2016.

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.

Wednesday, November 2, 2016

Early Morning Update 11-2-2016.

BGS is attempting to bottom out in this area.
NAT, NOK and RAIL are extremely oversold.
CMG and SPWR are at the average oversold level.
GLW, LPL, OIL, S, $SPX and USO are moderately oversold.
CVY and USO are attempting to hold rising trend line support.
BAC and MAT are attempting to hold the 65 DMA.
FXF and NEM are up against falling trend line resistance.
HPQ is up against the 65 DMA.
AU, JNUG and RGLD are up against the 28 day.
COPX, FXF and SEE are moderately overbought.
Anything posted may be off base.

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