Signals: Morning Update July 20, 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, July 20, 2017

Morning Update July 20, 2017.

Yi: +13.25 (extremely overbought)
CALM, CNK, DNKN, LOW and MAT are attempting to bottom out.
SNAP is extremely oversold again.
JACK and UUP are at the average oversold level.
DUST, PHI and TGS are moderately oversold.
GT, PETX and UGP are trying to hold rising trend line support.
AET and MET are attempting to hold the 65 DMA.
BAC, DAL and MCD are attempting to hold the 28 DMA.
BGS, DPB, GLDI, $GOLD, NUGT and UGLD are up against the 28 DMA.
GE is up against the 65 DMA.
GBTC is up against falling trend line resistance.
IWM is up against rising trend line resistance.
CAFE, EROS, JJN and P are moderately overbought.
AMTD, FB, FSLR, LMT, NFLX and SPWR are at the average overbought level.
$COPPER and FB are toppy here.
ATI, AVP and BMY are setting up to break out on the upside or downside.
Anything posted here may be off base.

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