Signals: Morning Update 3-24-2017.

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, March 24, 2017

Morning Update 3-24-2017.

Yi: +9.8
SGG is possibly forming a bottom.
ANF, BBBY, CANE, CHK, RAIL and $SUGAR are attempting to bottom out.
XON is extremely oversold.
CW, DB and SPWR are at the average oversold level.
AIG, HSNI, MDY, PTEN, WEAT, WFC, WHR, YUM, UUP and UYG are moderately oversold.
EWA, FTSE, FEU and Q are attempting to hold rising trend line support.
LEN is attempting to hold the 65 DMA.
AVAV, QCOM, QLD, SCHD and SHLD are attempting to hold the 28 DMA.
PMPIX and QID are up against the 28 DMA.
WEN is up against falling trend line resistance.
AEM, FXF, IAU, LPL, RGLD and UGLD are moderately overbought.
PNRA is at the average overbought level.
COST and FCX are setting up to break out either up or down.
Anything posted here may be off base.

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