Signals: Early Morning Update 1-4-2017.

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.

Wednesday, January 4, 2017

Early Morning Update 1-4-2017.

AVP, FCX, I, NAT, NUS and SPWR are attempting to bottom out in this area.
WOR and XON are at the average oversold level.
CLF, FB, HPQ and QCOM are moderately oversold.
$DJW and AAPL are trying to hold rising trend line support.
AAPL, COST, EBAY, GE, LPL, MSFT and S are attempting to hold the 65 DMA.
B, CREE, GLW, QCLN and SYY are attempting to hold the 28 DMA.
$SILVER and GF are up against falling trend line resistance.
$SILVER, DBP and SLV are up against the 28 DMA.
Anything posted here may be off base.

No comments:

Subscribe to: Post Comments (Atom)