Signals: Morning Update May 4, 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, May 4, 2017

Morning Update May 4, 2017.

Yi: +10.3
CALM, CSL, CTB and $GASO are attempting to bottom out.
DPS, F and GM are moderately oversold.
$GOLD, HB and IDA are attempting to hold rising trend line support.
$XOI is attempting to hold falling trend line support.
BWA is attempting to hold the 28 DMA.
DBA is up against falling trend line resistance.
ANF, COH and DNB are moderately overbought.
APD is at the average overbought level.
AAPL, CVGRX and JNPR are toppy.
FB, GLW, HPQ and $NDX are possibly forming a top at this level.
CREE is setting up to break out either up or down.
Anything posted may be off base.

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