Signals: Weekend Update June 3, 2018.

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.

Sunday, June 3, 2018

Weekend Update June 3, 2018.

Yi: +18.78
Possible bottom here for: C
Trying to bottom out: GS, JNJ, LPL, MBI, MMM, MS, NTES, SFIX, SFTBY, TPR, UYP
Average oversold: PHI, PPC, PPG, QRTEA, XRX
Moderately oversold: APD, GE, HA, KMB, LM, MKC, NIB, SWK, TGS, $WTIC, YUM
Trying to hold rising trend line support: MCD
Attempting to hold the 28 DMA here: IQV, IR, MJ, PG, SNA
Up against the 28 DMA here: SNAP
Up against falling trend line resistance: HD
Up against rising trend line resistance: ATI, AMZN, IJH, IJR
Moderately overbought: GM, KLIC, SGGFF, $SUGAR, YUMC
Toppy here: SIRI
A break out up or down is setting up for: AGX, GEF, GDX, HAS, MAIN, STX, NTR
Anything posted here may be off base.

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