Signals: MU 4-17-2018

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.

Tuesday, April 17, 2018

MU 4-17-2018

Yi: +15.85
Trying to bottom out: FAT, HSY, RSX, SMG
Average oversold: BMY
Attempting to hold the 28 DMA: MAIN, MBI, STMP
Up against the 28 DMA: DB, DBA, GE, RS, SCHB, SCHK, SCHX, $SPX
Up against the 65 DMA: EFV, MET, NAT, PTEN
Up against falling trend line resistance: CBRL and NFLX
Up against rising trend line resistance: CALM
Moderately overbought: MCIG, NEM, OILU
Toppy here: AA, AVAV, DBO, SU, USL
A break out up or down is setting up for: AMZN, DIS, $PLAT, PPLT, WDC
Anything posted here may be off base.

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