Signals: Morning Update 3-21-2017.

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, March 21, 2017

Morning Update 3-21-2017.

Yi: +11.0
CAFE is attempting to bottom out.
CVS is moderately oversold.
MET is attempting to hold rising trend line support.
QCOM is attempting to hold the 65 DMA here.
CPER and O are up against the 28 DMA.
I and NTES are up against the 65 DMA.
PNRA is up against rising trend line resistance.
AVA, CAKE, MMC and PFF are moderately overbought.
FB is at the average overbought level.
CSL, FEU, PEP and TSM are getting toppy here.
FTSE, GOOG, HD and LOW are possibly forming a top in this area.
CL, CSCO, DM and EGPT are setting up to break out either up or down.
Anything posted here may be off base.

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