Signals: Morning Update 3-31-2017.

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 31, 2017

Morning Update 3-31-2017.

Yi: +10.45
GG, $NDX and PAYX are moderately oversold.
DYN, GOOG, JCP and SHAK are up against the 28 DMA.
$COPPER, EBAY, NAT, UGA and XLE are up against falling trend line resistance.
EWA is up against falling trend line resistance.
FB, $GASO, NOV, QLD, RYE and ZNGA are moderately overbought.
LPL is at the average overbought level.
GF and MDLOX are toppy here.
HAS, HD and V are setting up to break out either up or down.
Anything posted here may be off base.

No comments:

Subscribe to: Post Comments (Atom)