Signals: Early Morning Update 11-3-2016.

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, November 3, 2016

Early Morning Update 11-3-2016.

Yi: +2.5
CIEN, CHK, CMG, LOW, Q and SPWR are attempting to bottom out in this area.
HD is at the average oversold level.
DUST, GOOG, IP, JDST and SBUX are moderately oversold.
CANE and SMH are attempting to hold the 65 DMA here.
AVP, C, CORN, MET, $USD and UUP are attempting to hold the 28 DMA.
CEF and GDX are up against falling trend line resistance.
GFI and HPQ are up against the 28 DMA.
ABX, CEF, $COPPER, CPER and FXF are moderately overbought.
PNRA, TWTR, WEAT and PEP are setting up to break out either up or down.
Anything posted may be off base.

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