Signals: Morning Update 10-27-2017.

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, October 27, 2017

Morning Update 10-27-2017.

Yi: +15.58
FL is possibly forming a bottom in this area.
CMG, GPC, NCR and WHR are trying to bottom out.
IRBT and MBI are extremely oversold.
ABX and NOK are at the average oversold level.
DPS, JNPR, T and TSLA are moderately oversold.
BABA, $DJW, MAIN, MRVL and VOT are trying to hold rising trend line support.
CG, $DJW and VOT are attempting to hold the 65 DMA.
BA, BB, CWI, MAIN, QCLN and $XOI are attempting to hold the 28 DMA.
WOR is up against the 28 DMA.
DYN, PAG and WFC are moderately overbought.
AET and APD are at the average overbought level.
Anything posted here may be off base.

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