Signals: Early Morning Update 12-8-2016.

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.

Thursday, December 8, 2016

Early Morning Update 12-8-2016.

DBP, IAU, PHI and UGLD are possibly forming a bottom here.
HSN and MAT are attempting to bottom out.
$VIX is at the average oversold level.
HSNI is moderately oversold.
BMY is attempting to hold rising trend line support.
BMY is attempting to hold the 28 DMA.
CSIQ, NFLX, STMP and Z are moderately overbought.
DB is at the average overbought level.
IP and JPM are extremely overbought.
C, CAKE and IP have gone parabolic.
Anything posted here may be off base.

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