Signals: Late Day 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

Late Day Update 12-29-2016.

Yi: +8.2
CAFE is trying to bottom out in this area.
CAR and SBUX are moderately oversold.
DIS is attempting to hold rising trend line support.
CREE, $DJW, FL and $SPX are attempting to hold the 65 DMA.
APD, BAC, CHK, IJH, IYJ, MDY, SNA and YUM are attempting to hold the 28 DMA.
UNG is moderately overbought.
$FTSE, $GASO and GBTC are at the average overbought level.
WHR is a bit toppy here.
CPER and CVS are setting up to break out either up or down.
Anything posted here may be off base.

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