Signals: Early Morning Update 1-12-2017.

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, January 12, 2017

Early Morning Update 1-12-2017.

AVAV, EROS, JCP, MKC and NAT are trying to form a bottom in this area.
CTB and PEP are moderately oversold.
DM is attempting to hold rising trend line support.
MMC is attempting to hold falling trend line support.
DB is attempting to hold the 65 DMA.
C and $XOI are attempting to hold the 28 DMA.
SPLS is up against the 65 DMA.
CMG is moderately overbought.
QLD is a bit toppy here.
COH is setting up to break out either up or down.
Anything posted here may be off base.

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