Signals: Late Day Update 1-26-2017.

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 26, 2017

Late Day Update 1-26-2017.

Yi: +9.1
$VIX is at the average oversold level.
ABX is attempting to hold rising trend line support.
CEF is attempting to hold the 65 DMA.
$COPPER and BWA are up against falling trend line resistance.
EROS is up against the 65 DMA.
AVAV, BBRY and CW are up against the 28 DMA.
APD, B, CSL, CVY, CWI, CAR, EFV and $SPX are moderately overbought.
BA, DB, $DJW and $NDX are at the average overbought level.
AAPL and COPX are toppy here.
Anything posted here may be off base.

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