Signals: Morning Update 2-28-2017.

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 28, 2017

Morning Update 2-28-2017.

Yi: +10.7
CALM and CAR are attempting to bottom out.
BBRY, BGS, COPX, IYE, NAT and PHI are moderately oversold.
$FTSE is attempting to hold the 28 DMA.
AGQ is up against rising trend line resistance.
BMY, CEF, CVS, FCX, FL, GLDI, $GOLD, PAYX and PEG are moderately overbought.
JNJ, O and NCR are at the average overbought level.
CVS, DBP, IAU, MCD and O are getting toppy here.
ORCL and PEP are possibly forming a top in this area.
P and $USD are setting up to break out either up or down.
Anything posted here may be off base.

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