Signals: MU June 7, 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.

Thursday, June 7, 2018

MU June 7, 2018.

Yi: +19.91
Possible bottom here for: GT
Trying to bottom out: CAR, CBRL, CMI, DB, NIB, $NYXBT
Extremely oversold: FSLR
Average oversold: NIB and PTEN
Moderately oversold: ALL, CL, $CRB, USO
Attempting to hold the 65 DMA here: UGA and USL
Attempting to hold the 28 DMA here: NSC
Up against the 28 DMA here: AU and TPR
Up against falling trend line resistance: SNAP
Moderately overbought: BBBY, EROS, JWN, NVDA, TGT, XON
Average overbought: AMZN, EYE, KSS, M, NOW, PYPL, TWTR, TXN
Toppy here: CG, FNG, M, MSFT
A break out up or down is setting up for: AHH, CW, PEP, ROK
Anything posted here may be off base.

No comments:

Subscribe to: Post Comments (Atom)