Signals: Morning Update April 20, 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 20, 2017

Morning Update April 20, 2017.

Yi: +9.0
COPX, MGA and P are attempting to bottom out.
JJN and NTES are at the average oversold level.
$COPPER, FAST, $FXT, $FTSE, I, JNJ and $USD are moderately overbought.
PEG is attempting to hold rising trend line support.
CVY, IWM, LOW, MED and STMP are up against falling trend line resistance.
BGS, DPS, $HGX and LEN are moderately overbought.
KO, MCD and SCHH are at the average overbought level.
O is toppy.
PEGI is possibly forming a top.
APD and SHAK are setting up to break out either up or down
Anything posted may be off base.

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