Signals: Weekend Update 2-4-2017.

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.

Saturday, February 4, 2017

Weekend Update 2-4-2017.

Yi: +9.0
CHK and XON are possibly forming a bottom at this level.
APD, GE, PYPL, SHLD and SYY are attempting to bottom out in this area.
CVS is at the average oversold level.
CSL, IP, MET, NAT, TILE, VOX, WFM and XLE are moderately oversold.
POT is attempting to hold rising trend line support.
AMTD and BA are attempting to hold the 65 DMA.
FL is up against the 28 DMA.
PMPIX is up against rising trend line resistance.
AU, M, MMC, PFF and SEE are moderately overbought.
$XAU is a bit toppy at this level.
BGS, GPC, PTEN and WOR are setting up to break out either up or down.
Anything posted here may be off base.

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