Signals: MU 11-8-2019

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.

Friday, November 8, 2019

MU 11-8-2019

Yi: +26.05
Attempting to bottom out: KOLD and RGLD
At the average oversold level: FIZZ and OXY
Moderately oversold: ALEX and O
Trying to hold rising trend line support: PFE
Trying to hold the 28 DMA: $COTTON and $XAU
Up against the 28 DMA: VFC
Up against rising trend line resistance: RY
Moderately overbought: FRDM, HA, SU, TD, TLRD
At the average overbought level: BRKS, GDDY, $INDU, JPM, MET, QCOM, RGR, TROW
Getting Toppy: BAC, MAIN, PPG, WFC, WYND
Possible top here for: AMP and USB
A break out either way is setting yp for: CRUS, RS, SOYB, WHR, $XOI
Anything posted may be off base.

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