Signals: Morning Update June 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.

Friday, June 2, 2017

Morning Update June 2, 2017.

Yi: +11.05
BBBY and FLR are possibly forming a bottom in this area.
$DJTENG, DNB, PETX and RYE are attempting to bottom out.
JPM is oversold.
BAC, CHK, CALM, DB, DM, EROS and LOW are moderately oversold.
CALM and CC are trying to hold rising trend line support.
JACK and PG are moderately overbought.
COST and GBTC are overbought.
AMAT, MTSI, SMH and TSLA are getting toppy.
ABX, AEM, CAKE, GDX and SNAP are setting up to break out either up or down.
Anything posted may be off base.

No comments:

Subscribe to: Post Comments (Atom)