Signals: Morning Update June 6, 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, June 6, 2017

Morning Update June 6, 2017.

Yi: +11.25
UNG is trying to bottom out.
CANE and SGG are extremely oversold.
$UST30Y is oversold.
$WTIC is moderately oversold.
PAG is trying to hold falling trend line support.
NCR is up against the 28 DMA.
APD, $GOLD, PHI, ROK, S, TGS, WHR and WSO are moderately overbought.
B. BA, MSFT, Q and SBUX are overbought.
NOW is extremely overbought.
AMAT, DNKN, FXI, HRB, IYJ and WYN are getting toppy at this level.
A and $FTSE are possibly forming a top.
ASA, $DJGSP, HPQ, IBM and $XAU are setting up to break out either up or down.
Anything posted may be off base.

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