Signals: This update is late because of a medical emergency. (almost went to the great UFO in the sky) It was supposed to be posted before the market opened today.

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 15, 2016

This update is late because of a medical emergency. (almost went to the great UFO in the sky) It was supposed to be posted before the market opened today.

XON is moderately oversold.
MOS is attempting to hold rising trend line support.
CLF, PTEN and SPWR are attempting to hold the 65 DMA.
AA and ATI are attempting to hold the 28 DMA.
AMCC is up against the 65 day.
INTC, JNJ, PEG, PEP, PG and TSLA are moderately overbought.
QLD is a bit toppy in this area.
COST, CREE, EWI, SCHB, $SPX and $XOI are possibly forming a top.
CNK, CSL, CTB, HSNI and $SILVER are setting up to break out either up or down.
Anything posted here may be off base.

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