Signals: MU 12-10-2019

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.

Tuesday, December 10, 2019

MU 12-10-2019

Yi: +26.95
Attempting to bottom out at this level: HD, MJ, $UST3M
Average oversold: CIEN
Trying to hold falling trend line support: SLV
Attempting to hold the 28 DMA: LYFT
Up against the 65 DMA: AA and CC
Up against the 28 DMA: DBI, GT, RRGB, RSX, $UST30Y, WHR
Up against falling trend line resistance: CSIQ and XRT
Up against rising trend line resistance: BMY, CAR, ETN, IYG, SCHD, TROW
Moderately overbought: BGS, CANE, GOOG, MCHP, PEP
Average overbought: AVP
Getting toppy at this level: KO, MCO, SYY
A break out either way is setting up for: AMTD and $PLAT
Anything posted on these pages may be off base.

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