Signals: Morning Update May 17, 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.

Wednesday, May 17, 2017

Morning Update May 17, 2017.

Yi: +10.7
JCP and PAG are attempting to bottom out.
CAR is at the average oversold level.
DF is moderately oversold.
MED is attempting to hold the 28 DMA.
IYE is up against the 28 DMA.
ABX is up against the 65 DMA.
$HGX is up against rising trend line resistance.
AVAV, CIEN, FXI, $FXT, JNJ, MRVL and MTH are moderately overbought.
CC is at the average overbought level.
MGA is toppy.
IRBT is possibly forming a top at this level.
BABA has gone parabolic.
BAC is setting up to break out either up or down.
Anything posted may be off base.

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