Signals: Early Morning Update 2-7-2017.

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, February 7, 2017

Early Morning Update 2-7-2017.

Yi: +8.8
CVS is attempting to bottom out in this area.
CAT, CMG, RGR and S are moderately oversold.
FCX and FNDF are attempting to hold the 65 DMA.
$COPPER and FEU are attempting to hold the 28 DMA.
PNRA and Z are up against falling trend line resistance.
C and $FTSE are up against the 28 DMA.
COST, CSCO, MCD and SGG are moderately overbought.
DM, HAS, SYMC and USB are at the average overbought level.
$DJW, MRVL, STX and YYY are a bit toppy in this area.
CAKE and CLF are setting up to break out either up or down.

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