Signals: Morning Update May 5, 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 5, 2017

Morning Update May 5, 2017.

Yi: +10.3
CALM, NIB, POT, PHI and SNA are attempting to bottom out.
FCX, GG, MOS and $PLAT are at the average oversold level.
AA, CAKE, DPS, HBI, RGLD, S, SCHH, T and UGLD are moderately oversold.
SFTBY is attempting to hold the 65 DMA.
DAL, DIS and RAIL are moderately overbought.
TSM and TWTR are at the average overbought level.
GBTC is extremely overbought.
IRBT, PFF and PYPL are toppy.
EBAY, HAS, JNJ and WYN are setting up to break out either up or down.
Anything posted may be off base.

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