Signals: Morning Update 12-21-2016.

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.

Wednesday, December 21, 2016

Morning Update 12-21-2016.

Yi: +9.0
AU is possibly forming a bottom at this level.
ABX, EROS, HAS, HSNI, M, MAT and RGLD are attempting to bottom out.
COPX, DNB and MOS are moderately oversold.
WOR is trying to hold rising trend line support.
CAKE and CWI are attempting to hold the 65 DMA.
CLF is attempting to hold the 28 DMA.
CTB and MSFT are up against rising trend line resistance.
COST and T are at the average overbought level.
HMC, MKC and PYPL are setting up to break out either up or down.
Anything posted here may be off base.

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