Signals: MU August 9, 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.

Wednesday, August 9, 2017

MU August 9, 2017.

Yi: +13.3
AU and MTSI are possibly forming a bottom.
FLR is average oversold.
DM and RYE are moderately oversold.
TAP is trying to hold rising trend line support.
SIRI is attempting to hold the 65 DMA.
DIS and $DJGSP are attempting to hold the 28 DMA.
AVAV and JACK are up against the 28 DMA.
EGPT is up against falling trend line resistance.
$FTSE, HD, JPM, MAIN, MCHP and NVDA are moderately overbought.
BBY and GBTC are average overbought.
$INDU, FNDF, LL and VGK are possibly forming a top.
EWI is probably forming a top.
KO, O, OIL and $WTIC are getting ready to break out either up or down.
Anything posted here may be off base.

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