Signals: Evening Update 2-10-2017.

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.

Friday, February 10, 2017

Evening Update 2-10-2017.

QCOM is possibly forming a bottom in this area.
NUGT is attempting to hold rising trend line support.
SLW is attempting to hold the 65 DMA.
WFM is up against falling trend line resistance.
SU is up against the 28 DMA.
STMP is up against rising trend line resistance.
NCR, VOT, WY and X are moderately overbought.
SYMC, TSLA and XLK are at the average overbought level.
PG is getting toppy at this level.
PHI is setting up to break out either up or down.
Anything posted here may be off base.

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