Signals: MU 11-3-2017

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.

Friday, November 3, 2017

MU 11-3-2017

Yi: +16.23
CMG is possibly forming a bottom here.
B and BBGI are attempting to bottom out.
MAT is extremely oversold.
HBI is average oversold.
ANF, CNK, HPE, IR, LOW and MDC are moderately oversold.
HPQ is trying to hold rising trend line support.
ITW is attempting to hold the 65 DMA.
AGQ and CEF are up against the 65 DMA.
EROS is up against falling trend line resistance.
BABA, $DJTENG, EYE, $FTSE and GF are moderately overbought.
HMC is average overbought.
$DJW, GDDY and NVDA are getting toppy.
AVAV is setting up to break out either upward or downward.
Anything posted here may be off base.

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