Signals: Late Day Update 11-16-2016.

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 16, 2016

Late Day Update 11-16-2016.

Yi: +5.6
$GOLD, $PLAT and PTM are attempting to bottom out in this area.
CANE is at the average oversold level.
HD is moderately oversold.
$VIX is trying to hold rising trend line support.
BBRY is up against the 65 DMA here.
CVY, IYE and NOV are moderately overbought.
C, CAR, STMP, $UST30Y and $UST3M are at the average overbought level.
BAC, CNK and MDY are toppy here.
DRI, IJH and IJR are possibly forming a top here.
Anything posted here may be off base.

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