Signals: Morning Update 4-6-2017.

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.

Thursday, April 6, 2017

Morning Update 4-6-2017.

Yi: +9.6
SOYB is possibly forming a bottom in this area.
PAYX is attempting to bottom out.
WHR is at the average oversold level.
CREE and NTES are moderately oversold.
CTB is attempting to hold the 65 DMA.
COH and LOW are attempting to hold the 28 DMA.
$PLAT, UUP, $USD and YUM are up against the 28 DMA.
CSIQ is up against the 65 DMA.
DYN, $FTSE and $SPX are up against falling trend line resistance.
AU, CHK, $DJTENG, $GASO, IR, $WTIC and $XAU are moderately overbought.
PHI is at the average overbought level.
CAKE, LL, RGLD and TSLA are toppy.
$DJW, I, IP, SCHD and SYMC are setting up to break out either up or down.
Anything posted here may be off base.

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