Signals: Morning Update June 9, 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 9, 2017

Morning Update June 9, 2017.

Yi: +11.2
CLF is possibly forming a bottom.
BBBY, CAKE, CSL and $USD are attempting to bottom out.
$CRB and HSNI are oversold.
ANF, CMG and TWTR are moderately oversold.
LL is attempting to hold the 28 DMA.
DFS is up against the 28 DMA.
AXP, NUS and TSA are moderately overbought.
NTES is overbought.
XLNX is toppy at this point.
MSFT, RAI, YUM and YUMC are possibly forming a top.
CALM, LEN and SYMC are setting up to break out either up or down.
Anything posted may be off base.

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