Signals: MU 10-19-2017

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, October 19, 2017

MU 10-19-2017

Yi: +15.38
M and MTSI are trying to bottom out.
AEM and HBI are moderately oversold.
IYJ is trying to hold rising trend line support.
MOS and SBUX are attempting to hold the 28 DMA.
HSNI is up against the 28 DMA.
CAKE and DRI are up against the 65 DMA.
HA is up against falling trend line resistance.
JPM and MS are up against rising trend line resistance.
CSX, HSY, JNJ are overbought.
AMAT is extremely overbought.
AMZN, BRKS, MED, NOW, QLD are getting toppy here.
$NDX and ROK are possibly forming a top.
NCR is setting to break out up or down.
Anything posted here may be off base.

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