Signals: Morning Update May 12, 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, May 12, 2017

Morning Update May 12, 2017.

Yi: +10.6
AGQ, AVP, CEF, SIVR and $SLV are possibly forming a bottom in this area.
$COPPER, DBP, $GOLD and I are attempting to bottom out.
SNAP is at the average oversold level.
CTB, DIS, MAIN, NDAQ and PEG are moderately oversold.
INTC is attempting to hold rising trend line support.
$DJTENG is up against the 28 DMA.
ANF, DAL, $FTSE, MGA, NUS and QCLN are moderately overbought.
FSLR, HRB and WEN are at the average overbought level.
CVGRX, MDLOX and RAIL are getting toppy.
BBRY and HD are possibly forming a top at this level.
CENX, CVY, IJH, MDY, MKC and PEP are setting up to break out either up or down.
Anything posted may be off base.

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