Signals: Evening Update 12-29-2016.

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 29, 2016

Evening Update 12-29-2016.

FXF and PHI are possibly forming a bottom in this area.
MAT is attempting to find a bottom.
F, FCX, LOW, SEE and WY are moderately oversold.
QCOM is attempting to hold rising trend line support.
FNDF, GLW, IP, MSI, PG, SCHB, SU and TKR are attempting to hold the 65 DMA.
GM and X are attempting to hold the 28 DMA.
TSLA is a bit toppy here.
UGA is possibly forming a top in this area.
JNJ, O and SYMC are setting up to break out either up or down.
Anything posted here may be off base.

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