Signals: Evening Update 2-1-2017.

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.

Wednesday, February 1, 2017

Evening Update 2-1-2017.

Yi: +8.45
CSIQ is attempting to bottom out at this level.
C, GOOG and UNG are moderately oversold.
IYJ and LEN are attempting to hold rising trend line support.
MED is up against falling trend line resistance.
TWTR is up against the 65 DMA.
$COPPER is up against rising trend line resistance.
FXF, I and NDAQ are moderately overbought.
DIS and USB are at the average overbought level.
SNA and STX are a bit toppy at this level.
GBTC, GFI and OIL are setting up to break out either up or down.
Anything posted here may be off base.

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