Signals: MU 12-19-2017

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.

Tuesday, December 19, 2017

MU 12-19-2017

Yi: +18.92
Trying to bottom out in this area: GM, NOK, UNG, WEAT
Average oversold: FAT
Moderately oversold: CHK, CSX, JACK, SFTBY, $UST30Y
Attempting to hold the 65 DMA: CAKE, PPC, PTEN
Attempting to hold the 28 DMA: FLO and MRVL
Now up against the 65 DMA: BRKS and HBI
Up against falling trend line resistance: B, COW, FB, GT, MAN, RGLD
Moderately overbought: $COPPER, CREE, EBAY, LMT, NOW, PG, SPWR
Average overbought: DAL, $NDX, SCHH, UTX, VFC
Extremely overbought: PAYX, SCHD, SCHX
Toppy in this area: BA, BBGI, DIS, PEP
A break out either way is on the way for: IYE, PRELF, RYE, TSM
Anything posted here may be off base.

No comments:

Subscribe to: Post Comments (Atom)