Signals: MU August 1, 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.

Thursday, August 1, 2019

MU August 1, 2019.

Yi: +23.95
Attempting to bottom out: MJ, PBI, SPXU, UNG
Extremely oversold: TTM
Average oversold: LL
Moderately oversold: CMI, EWI, OLLI, PFE, PYPL, SYY, TKR
Attempting to hold the 65 DMA: BYND and GDDY
Attempting to hold the 28 DMA: BABA, C, CPRI, COST, EYE, SGGFF
Up against the 65 DMA: CALM, SVXY, V
Up against the 28 DMA: BB, AVAV, $GASO, RYE, $SUGAR
Up against rising trend line resistance: VLY
Moderately overbought: IJR, MAIN, NOV, NTR, PINS, QRTEA, $WTIC
Average overbought: AKAM and PG
Extremely overbought: SMG
Toppy: CRUS and T
A break out either way on the way: AGX, DD, MMM
Anything posted may be off base.

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