Signals: Early Morning Update 12-7-2016.

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, December 7, 2016

Early Morning Update 12-7-2016.

HSNI and SHLD are moderately oversold.
GM is attempting to hold rising trend line support.
UUP is attempting to hold the 65 DMA.
C is up against rising trend line resistance.
GOOG is up against the 28 DMA.
CHK is moderately overbought.
CLF and IP are at the average overbought level.
BA and JPM are extremely overbought.
BA, COPX and $WTIC are a bit toppy at this level.
AEM, AXP and COST are setting up to break out either up or down.
Anything posted here may be off base.

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