Signals: MU 2-21-2018

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, February 21, 2018

MU 2-21-2018

Yi: +18.8
Trying to bottom out: UNG
Average oversold: CTB and MCD
Moderately oversold: CAFE, CANE, CBRL, JO
Up against the 28 DMA: FSLR, GOOG, JACK, PEG, WEC
Up against the 65 DMA: AQUA, DIS, IP, MMM, RAIL
Up against falling trend line resistance: AMAT
Up against rising trend line resistance: P
Moderately overbought: CLF, CW, DFS, EBAY, EGPT, FLO, JCP, MBI, MKC, $PLAT
Average overbought: EROS, $GASO, X
Toppy: DE and JWN
Anything posted here may be off base.

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