Signals: Early Morning Update 12-12-2016.

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, December 12, 2016

Early Morning Update 12-12-2016.

I is attempting to hold the 28 DMA.
MED is up against falling trend line resistance.
PEGI and PHI are up against the 28 DMA.
$UST30Y is up against rising trend line resistance.
AIG, COH, EWA, GDDY, NAT, SEE and VOT are moderately overbought.
AXP, C, MTH and XLE are at the average overbought level.
NCR is attempting to form a top here.
B, CAKE, COPX, PTEN and X are likely forming a top here.
DIS has gone parabolic.
Anything posted here may be off base.

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