Signals: MU 12-24-2019

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 24, 2019

MU 12-24-2019

Yi: +28.5
Attempting to bottom out: QRTEA
Moderately oversold: HPE
Trying to hold rising trend line support: ATI and BWA
Up against the 28 DMA: GBTC
Up against falling trend line resistance: AKAM and MOS
Up against rising trend line resistance: MCHP
Moderately overbought: BAL, BGS, CPB, INTC, IQV, LBAI, MANT, NDAQ, NOW, NUS, T
Average overbought: C, $INDU, JNJ, SYY, UYG, VOT
Getting toppy in this area: IWM, JWN, NVDA, VOX, XLY, YYY
A break out either way is setting up fpr: B, CORN, CSX, LOW
Anything posted on these pages may be off base.

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