Signals: MU 11-4-2019

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.

Monday, November 4, 2019

MU 11-4-2019

Yi: +26.44
Trying to bottom out: BBY, SHAK, TAP, TUP
Extremely oversold: PINS
Moderately oversold: CBRL, MDC, NTR, PBI, PPC, WDC, WHR, YUMC
Trying to hold rising trend line support: $COPPER
Trying to hold falling trend line support: BGS and CL
Attempting to hold the 28 DMA: KOL, LYFT, $UST30Y
Up against the 28 DMA: NCR and SMG
Up against falling trend line resistance: $GOLD, IAU, UGLD, WOR
Up against rising trend line resistance: SCHD and SNA
Moderately overbought: MMC, SIL, UNG, X
Average overbought: WU
Getting toppy: AEM, BMY, PEGI
A break out either way is setting up for: CORN, LIN, TSLA
Anything posted may be off base.

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