Signals: Evening Update 11-22-2016.

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, November 22, 2016

Evening Update 11-22-2016.

MKC and SLV are possibly forming a bottom here.
B and CSIQ are at the average oversold level.
ATI is up against falling trend line resistance.
FB and UGP are up against the 65 DMA.
AAPL, UGA and USO are up against the 28 day.
GDDY, LEN, PAYX, PTEN, QLD, SU and $XOI are moderately overbought.
AMCC, MTH and Q are at the average overbought level.
BAC and MMC are toppy here.
SCHB and STX are possibly forming a top in this area.
Anything posted here may be off base.

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