Signals: Late Day Update 12-2-2016.

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.

Friday, December 2, 2016

Late Day Update 12-2-2016.

Yi: +6.1
AGQ, $DJGSP, PTM and $XAU are possibly forming a bottom at this level.
CAFE and GLDI are attempting to bottom out at this level.
CIEN, DBA, DPS, KO, NDAQ and TSM are moderately oversold.
JJG and SMH are attempting to hold rising trend line support.
DF and STMP are attempting to hold the 28 DMA here.
BWA, $CRB, UNG and $WTIC are moderately overbought.
DRI, IYE, PAG and $XOI are at the average overbought level.
PRU may be topping out.
AMTD is possibly forming at this level.
Anything posted here may be off base.

No comments:

Subscribe to: Post Comments (Atom)