Signals: Weekend Update 1-28-2017.

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.

Saturday, January 28, 2017

Weekend Update 1-28-2017.

XON is possibly forming a bottom at this price level.
WU is attempting to bottom out.
SHLD is extremely oversold.
HAS and MAT are moderately oversold.
GDX, PHI and WHR are attempting to hold the 65 DMA.
EWI, NEM and RJI are attempting to hold the 28 DMA.
IYG, JPM and NDAQ are moderately overbought.
FB is at the average overbought level.
IP, QLD, S, SCHB, SCHX, SFTBY, SNA and VOT are toppy here.
IR and XLY are possibly forming a a top at this price level.
SGG, $SUGAR and USL are setting up to break out either up or down.
Anything posted here may be off base.

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