Signals: MU August 16, 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, August 16, 2018

MU August 16, 2018.

Yi: +20.85
Attempting to bottom out in this area: F, SWK, WHR, WU
At the average oversold level: GDX, GFI, GG
Moderately oversold: CSIQ, CWI, FXI, HD, MAN, MMM, MTH, $NYXBT, WOR
Trying to hold rising trend line support: CMI and HMC
Trying to hold falling trend line support: FNDF and VGK
Attempting to hold the 28 DMA: ETN, JNJ, SCHK, TRV, XLNX
Up against the 65 DMA: MCD
Up against rising trend line resistance: AET
Moderately overbought: CVS, TPR, $USD
Getting toppy in this area: AVAV
Possible top in this area for: AMZN
Going parabolic: DUST
A break out either way is on the way for: BGS and TSN
Anything posted on these pages may be off base.

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