Signals: Evening 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

Evening Update 1-31-2017.

JCP, NIB and SPWR are possibly forming a bottom at this level.
SHLD is extremely oversold.
FL, $FTSE, $GASO, PYPL, RAIL, RYE, SU and XLE are moderately oversold.
DM, MOS, SFTBY, SCHB and SCHX are attempting to hold rising trend line support.
DBA, FNDF, MSN, NOV and TILE are attempting to hold the 65 DMA.
MDY, QCLN and WEAT are attempting to hold the 28 DMA.
JJN is up against falling trend line resistance.
DIS is moderately overbought.
PHI is setting up to break out either up or down.
Anything posted here may be off base.

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