Signals: Early Morning Update 1-31-2017.

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.

Tuesday, January 31, 2017

Early Morning Update 1-31-2017.

Yi: +8.5
BMY, JJN and QID are possibly forming a bottom at this level.
BBBY, JCP and MSFT are attempting to bottom out in this area.
APD, CVS, SBUX, SYY and WHR are moderately overbought.
$NDX and SPLS are attempting to hold rising trend line support.
CALM, $GOLD and WHR are attempting to hold the 65 DMA.
COH, NCR and QCLN are attempting to hold the 28 DMA.
AGQ and $SILVER are up against falling trend line resistance.
RAI is possibly forming a top at this level.
DBO, NAT and TILE are setting up to break out either up or down.
Anything posted here may be off base.

No comments:

Subscribe to: Post Comments (Atom)