Signals: MU 5-22-2019

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, May 22, 2019

MU 5-22-2019

Yi: +20.84
Possible bottom here for: CC
Attempting to bottom out: BIDU, BWA, CAL, CANE, CPRI, DE, EGPT, FL, JO, KR, MGA
Extremely oversold: FCX, GT, MMM
Average oversold: BABA, GEF, KSS, LPL
Moderately oversold: BKS, CAR, CREE, $GOLD
Trying to hold falling trend line support: BB
Attempting to hold the 28 DMA: BRKS, I, MDC
Up against rising trend line resistance: LMT
Moderately overbought: CORN, JJGTF, NIB
Toppy: AFL
A break out either way on the way: ANF, FIZZ, NUGT
Anything posted may be off base.

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