Signals: MU June 29, 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, June 29, 2017

MU June 29, 2017.

Yi: +11.25
CC, KR, LOW and SYY are attempting to bottom out.
AMAT, GEF, INTC, MCHP and PAYX are moderately oversold.
SWK is attempting to hold the 65 DMA.
B. ITW, NVDA, RGR, TSM and YUMC are attempting to hold the 28 DMA.
BR and CTB are up against the 28 DMA.
BBGI and CHK are up against the 65 DMA.
BBGI, BBY, FLR, PAG and WFC are up against falling trend line resistance.
HBI is up against rising trend line resistance.
CAL, CENX, CVS, EROS, SHLD and UIS are moderately overbought.
HRB is possibly forming a top here.
F and RAI are setting up to break out in either direction.
Anything posted may be off base.

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