Signals: Late Day Update 11-21-2016.

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.

Monday, November 21, 2016

Late Day Update 11-21-2016.

Yi: +6.2
CANE, CL, PEP and SGG are possibly forming a top in this area.
AGQ, EWI, IAU, KO, MKC and PG are attempting to bottom out in this area,
ANF and FEU are moderately oversold.
HSY is trying to hold rising trend line support.
MAT is attempting to hold the 28 DMA here.
CHK, CMG and UGP are up against falling trend line resistance.
INTC is up against the 28 DMA.
IYE is up against rising trend line resistance.
BWA, GLW, MED, MRVL and MSFT are moderately overbought.
I and MMC are at the average overbought level.
CREE, MCD, UUP and X are toppy here.
AMTD, C and TILE are possibly forming a top here.
QCOM and TWTR are setting up to break out either up or down
Anything posted here may be off base.

No comments:

Subscribe to: Post Comments (Atom)