Signals: Late Day 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

Late Day Update 1-12-2017.

Yi: +8.8
MKC is possibly forming a bottom in this area.
CL, DF, LOW, M and P are attempting to bottom out in this area.
KO and STX are moderately oversold.
BA, IYG, MDY, NCR and $SPX are attempting to hold the 28 DMA.
SPWR is up against falling trend line resistance.
CAKE is up against the 28 DMA.
AA, COPX, DYN, FXI, LPL, SNA and SEE are moderately overbought.
AAPL and TKA are a bit toppy here.
DIS is probably forming a top here.
AVP, COST, DNB, GLW, GM and IP are setting up to break out either up or down.
Anything posted here may be off base.

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