Signals: MU 10-23-2019

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, October 23, 2019

MU 10-23-2019

Yi: +24.60
Average oversold: HAS
Moderately oversold: JACK
Attempting to hold the 65 DMA: JJNTF
Attempting to hold the 28 DMA: MTH, PAYX, SMH
Up against the 28 DMA: DBO, KR, QRTEA, SU
Up against falling trend line resistance: GILD
Up against rising trend line resistance: AAPL, C, JWN, TAP
Moderately overbought: AMP, B, ETN, HBI, MMM, PG, STX, TAP
Average overbought: CG, EMR, JPM, STMP
Getting toppy: BNS, CG, CWI, DE, $DJW, EWI, PPG, RY, SCHH
Anything posted may be off base.

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