Signals: Evening Update 2-16-17.

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, February 16, 2017

Evening Update 2-16-17.

QID is now extremely oversold.
LPL is at the average oversold level.
O is attempting to hold the 28 DMA.
SHLD, SNA and VFC are up against the 28 DMA.
TSL is up against rising trend line resistance.
IYG, JPM, NUS, PEGI, PRU, UGP and XON are moderately overbought.
PG, SMH, V, WFC, X, XLY and XLK are at the average overbought level.
QLD is extremely oversold.
MCD, SCHB, SCHX and YUM are toppy at this level.
STMP, STX and VOT are possibly forming a top here.
MMC has gone parabolic.
Anything posted here may be off base.

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