Signals: Morning Update 2-3-2017.

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 3, 2017

Morning Update 2-3-2017.

+8.5
CHK and WU are attempting to bottom out.
DF, EGPT, MSI, PAYX, ABUX, SNA, SYY and Z are moderately oversold.
IYJ and MSFT are attempting to hold rising trend line support.
AXP, O, PHI, UGP and WY are attempting to hold the 28 DMA.
SOYB is up against falling trend line resistance.
COPX and MRVL are up against rising trend line resistance.
JJN, $PLAT, $SILVER, SIVR and SLV are moderately overbought.
AAPL is at the average overbought level.
DIS is a bit toppy here.
Anything posted here may be off base.

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