Signals: Evening Update 2-8-2017.

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 8, 2017

Evening Update 2-8-2017.

RJR is possibly forming a bottom at this level.
IYE, VOX, WFM and XLE are attempting to bottom out.
VFC is at the average oversold level.
MSI, MTH, RYE, SNA and SPLS are moderately oversold.
IJR and I are attempting to hold the 65 DMA.
M, SGG and XLB are attempting to hold the 28 DMA.
O is up against rising trend line resistance.
IR and TWTR are moderately overbought.
RAI is a bit toppy at this level.
MRVL and MCD are possibly forming a top in this area.
PEG is setting up to break out either up or down.
Anything posted here may be off base.

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