Signals: Morning Update May 23, 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 23, 2017

Morning Update May 23, 2017.

Yi: +9.9
DF, JWN, M and WU are possibly forming a bottom at this level.
BBGI, DNB, GT, MED, SHLD and SPLS are attempting to bottom out.
SYMC and $UST30Y are moderately oversold.
ANF is attempting to hold the 28 DMA.
GE and O are up against falling trend line resistance.
$CRB, DBO, DYN, FXF, $GASO, HSY and $WTIC are moderately overbought.
LL is extremely overbought.
AIG, DNKN, NAT, SNAP, TSLA, USB and UIS are setting up to break out up or down.
Anything posted may be off base.

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