Signals: MU August 3, 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.

Friday, August 3, 2018

MU August 3, 2018.

Yi: +20.25
Trying to bottom out: BBGI, FB, SGGFF, TLRD, TSN, TWTR
Extremely oversold: PPC and RRGB
Average oversold: CAKE, HBI, NCR, NIB
Moderately oversold: BBBY, BIDU, CVS, JWN
Trying to hold rising trend line support: GBTC and XLB
Trying to hold falling trend line support: CANE
Attempting to hold the 65 DMA: HD, KSS, MMC, TPR
Attempting to hold the 28 DMA: D, M, MED, ORCL
Up against the 65 DMA: LPL
Moderately overbought: RAIL, RY, TAP, TD, WEAT
Getting toppy: KO
Anything posted on these pages may be off base.

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