Signals: Morning Update May 2, 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.

Tuesday, May 2, 2017

Morning Update May 2, 2017.

Yi: +10.3
DYN is possibly forming a bottom here.
$GASO and DFS are at the average oversold level.
CSL, FAST, GE and SHLD are moderately oversold.
SNA is attempting to hold rising trend line support.
CW and SGG are up against falling trend line resistance.
TSLA is up against rising trend line resistance.
AEM, BMY, CSCO, FSLR, MGA, SNAP and TWTR are moderately overbought.
B and Q are at the average overbought level.
BBRY, HD, MAIN and RGR are toppy.
MET is setting up to break out up or down.
Anything posted may be off base.

No comments:

Subscribe to: Post Comments (Atom)