Signals: Evening Update 12-19-2016.

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 19, 2016

Evening Update 12-19-2016.

Yi: +8.7
GLDI is possibly forming a bottom at this level.
COH, FXF, GFI, $GOLD, JNUG and $XAU are attempting to bottom out in this area.
HAS, COH, CPER, FCX, FXI, JCP and QVCA are moderately overbought.
$CRB, NCR and PEGI are attempting to hold rising trend line support.
FL is attempting to hold falling trend line support.
$CRB, LOW and UNG are attempting to hold the 65 DMA.
CW and DRI are attempting to hold the 28 DMA.
CMG is up against the 28 DMA.
CALM, NOK and WFM are moderately overbought.
PAYX is at the average overbought level.
GBTC and WOR are setting up to break out either up or down.
Anything posted here may be off base.

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