Signals: Morning Update October 13, 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 13, 2017

Morning Update October 13, 2017.

Yi: +15.13
Trying to bottom out: CENX, CIEN, CORN, GE
Oversold: SHLD
Moderately oversold: BBY, JWN, MCD
Trying to hold rising trend line support: MAN
Attempting to hold the 65 DMA: AGX, DM, GBTC, SYY, UUP
Attempting to hold the 28 DMA: GLW, MAIN, RGR
Up against the 65 DMA: IAU
Up against rising trend line resistance: $DJW
Moderately overbought: JNJ, KO, YUM
Overbought: TSM, V
Toppy: AMAT, BABA, AXP, GM, HMC, $INDU, MGA, SMH, TXN, XLK
A break out in either direction is in the cards for: DF, $GASO, ORCL
Anything posted may be off base.

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