Signals: MU July 24, 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.

Monday, July 24, 2017

MU July 24, 2017.

Yi: +13.2
GPC is average overbought.
HD is moderately oversold.
BAC, CAT and IYJ are trying to hold rising trend line support.
C, MET and MTH are attempting to hold the 28 DMA.
GBTC is up against the 28 DMA.
ABX and DIS are up against the 65 DMA.
B, CPER, $CRB, CTB, EFV, FNDF and JNJ are moderately overbought.
$DJW, $FXT and GILD are average overbought.
CLF, EWI, IWM and MBI are toppy here.
AMAT, KLIC and MDY are possibly forming a top in this area.
LEN and MCD are setting up to break out either up or down.
Anything posted may be off base.

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